Bunge Limited Stock Forecast
Stronger technical forecast for Bunge Limited stock price after Tuesday trading.
(Updated on Jul 02, 2024)
The Bunge Limited stock price gained 2.85% on the last trading day (Tuesday, 2nd Jul 2024), rising from $107.32 to $110.38. During the last trading day the stock fluctuated 3.46% from a day low at $107.14 to a day high of $110.84. The price has risen in 7 of the last 10 days and is up by 7.19% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 935 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $182.82 million.
The stock has broken the horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $110.25 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $119.13 sometime during the next 3 months.
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BG Signals & Forecast
Mostly positive signals in the chart today. The Bunge Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $107.74 and $105.15. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 7.75%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Bunge Limited stock
Bunge Limited finds support from accumulated volume at $109.52 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $3.71 between high and low, or 3.46%. For the last week the stock has had daily average volatility of 2.16%.
Our recommended stop-loss: $104.07 (-5.72%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (BG) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Bunge Limited to open at $109.45, and during the day (based on 14 day Average True Range), to move between $108.09 and $112.67, which gives a possible trading interval of +/-$2.29 (+/-2.08%) up or down from last closing price. If Bunge Limited takes out the full calculated possible swing range there will be an estimated 4.15% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $109.52, some $0.86 (0.78%) from the current price of $110.38, our system finds the risk reward attractive.
Is Bunge Limited stock A Buy?
Bunge Limited holds several positive signals and has broken the horizontal trend up. As the stock is in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 6.441 Strong Buy Candidate Upgraded
Predicted Opening Price for Bunge Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $109.45 ( 0.84%) | $110.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BG
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 113.16 | 2.52% |
| R2 | 111.74 | 1.23% |
| R1 | 110.87 | 0.441% |
| Price | 110.38 | |
| S1 | 108.04 | -2.12% |
| S2 | 107.16 | -2.92% |
| S3 | 105.75 | -4.20% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 110.38 | |
| S1 | 109.52 | -0.779% |
| S2 | 105.79 | -4.16% |
| S3 | 103.77 | -5.99% |
BG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 19, 2024 | Aug 19, 2024 | Sep 02, 2024 | $0.680 | 0.616% |
| 2 | Feb 22, 2024 | May 17, 2024 | Jun 03, 2024 | $0.680 | 0.628% |
| 3 | Nov 02, 2023 | Feb 15, 2024 | Mar 01, 2024 | $0.663 | 0.712% |
| 4 | Aug 17, 2023 | Nov 16, 2023 | Dec 01, 2023 | $0.660 | 0.604% |
| 5 | May 11, 2023 | Aug 17, 2023 | Sep 01, 2023 | $0.663 | 0.576% |
FAQ
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