$ADM Breakout on the Daily Chart + News

Probably going to buy some options on this pretty setup today if I see follow through from yesterday’s breakout. May start with just one option contract to keep me apprised:

https://twitter.com/peregreine/status/1529396512601559040

1) $ADM broke out yesterday on the daily chart.

Check out the earnings from a month ago (see chart.)

The 20 x 50 EMAs bullish crossover is still intact since 1 OCT 22, which is a rarity in most stocks at this moment:

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Financial Times headline: ADM partners with lab-grown meat start-up Eat Just

Subheadline: US crop trader will work with maker of first cultured chicken to receive regulatory approval

https://archive.ph/Apb3R

The bulk of ADM’s revenue comes from trading agricultural commodities such as corn and soyabeans, and producing edible oils, sweeteners and biofuels. But the group has been expanding its speciality ingredients business in recent years as it looks at future growth markets.

It is particularly focused on areas such as alternative proteins, including plant-based and lab-grown meats, as climate change limits growth of livestock production despite rising demand for meat.

“The alternative protein market continues to grow at a rapid pace, and we’re investing in a wide variety of new technologies and new partners to stay on the cutting edge of what’s next in this space,” said Leticia Gonçalves, president of ADM’s global foods business.

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https://twitter.com/peregreine/status/1531651351897427969

$ADM building on its breakout today, Tue, 31 MAY 22

(daily chart look)

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