Agribusiness giants have had a rough couple of months. Grain prices and biofuel margins have softened, and trade disputes have kept international volumes choppy. Stocks like Archer Daniels Midland (ADM) have been under pressure amid rising costs and policy uncertainty. But on March 30, one technical newsletter caught the attention of investors when CappThesis founder and President Frank Cappelleri flagged ADM stock as breaking out of a multi-month base with a measured upside near $90. Cappelleri thinks ADM stock could rally by more than 20% from today's levels. His insight helped spark a bounce in shares, even as the S&P 500 Index ($SPX) itself neared oversold levels.
For traders who like chart-driven setups, this kind of call is hard to ignore.
