Archer Daniels Midland (ADM) NewsBite - ADM Hits 52-Week High

Archer Daniels Midland (NYSE: ADM) hit a new 52-Week high of $32.74 so far today. Currently the stock is up $0.18 (0.56%) to $32.39 on 2,384,454 shares traded. Today's high is up $12.39 from a 52-Week Low of $20.00. Archer Daniels Midland stock has been showing support around $31.24 and resistance in the $33.10 range. Technical indicators for the stock are neutral and S&P gives ADM a neutral 3 STARS (out of 5) hold ranking. The stock is trading at a new high today following better than expected earnings earlier this week. On Tuesday the company reported Q3 earnings of 77 cents per share, above the 56 cents that analysts had been expecting to see. If you are looking for a hedged play on ADM the stock seems like it could be a candidate for a March out-of-the-money bull-put credit spread below the 25 range.

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