3 min read

ADM Is Coming Off From A Combination Of Fibonacci Levels, Can 78.6% Hold?

ADM Is Coming Off From A Combination Of Fibonacci Levels, Can 78.6% Hold?
Photo by Spencer Scott Pugh / Unsplash

The chart is KEY to this analysis.

Our last update on this stock was on 11/11/23 and in it we said,

Use 73.47 as the swing point for now.
Above it, there are a couple of key levels to look for that have a combination of retracements. The two most important highs to retrace to, are the ATH on 4/21/22 and the last high on 7/26/23 when it hit 61.8% back to the ATH. The first hurdle is 76.45, this is 23.6% to the ATH and 38.2% back to the 7/26/23 high. The short term trend will not turn positive until it can take out 38.2% and 61.8% of the same two highs at 81.00.

The 73.47 level (swing point) was 23.6% back to the 7/26/23 high (that high was 61.8% back to the contract high) and a major Gann square. Using it as the swing point it sat on that level for the next month and then went up to what we called the first hurdle at 76.45. The setback from this area has taken it to 71.25 this is 78.6% back to the 10/25/23 low. Following the ONE44 23.6% and 38.2% rule, we know any market that can't make a new high, or low from these retracements can be the first sign of a trend change and especially one that holds a 78.6% level, as this can also be the start of the next Bull run based on the ONE44 78.6% rule. This is what happened at the top on 12/27/22.


Provided the 71.25 area holds, the next rally can take it to the short term swing point and combination Fibonacci retracement area at 81.00, since it already reacted to the 76.45 area. A failure to turn up from 71.25 can send it down to the long term swing point at 63.07, this is 38.2% of the ATH and ATL and a major Gann square.

ONE44 Analytics where the analysis is concise and to the point

Our goal is to not only give you actionable information, but to help you understand why we think this is happening based on pure price analysis with Fibonacci retracements, that we believe are the underlying structure of all markets and Gann squares.

If you like this type of analysis and trade the Grain/Livestock futures you can become a Premium Member.

You can also follow us on YouTube for more examples of how to use the Fibonacci retracements with the ONE44 rules and guidelines.

FULL RISK DISCLOSURE: Futures trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Commission Rule 4.41(b)(1)(I) hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. Past performance is not necessarily indicative of future results.