Coffee Commodity Forecast

Coffee commodity upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on May 01, 2024)

KCUSX Signals & Forecast

A sell signal was issued from a pivot top point on Wednesday, April 17, 2024, and so far it has fallen -10.51%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Some positive signals were issued as well, and these may have some influence on the near short-term development. The Coffee commodity holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the commodity giving a positive forecast for the stock. On further gains, the commodity will meet resistance from the short-term Moving Average at approximately $222.31. On a fall, the commodity will find some support from the long-term average at approximately $207.20. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The commodity should be watched closely. The commodity had a Golden Star Signal on Friday, March 22, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the commodity in question.

Support, Risk & Stop-loss for Coffee commodity

Coffee finds support from accumulated volume at $212.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This commodity has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the commodity moved $2.35 between high and low, or 1.10%. For the last week, the commodity has had daily average volatility of 1.07%.

Our recommended stop-loss: $203.18 (-5.54%) (This commodity has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 10 days ago.)

Trading Expectations (KCUSX) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect Coffee to open at $214.32, and during the day (based on 14 day Average True Range), to move between $209.19 and $221.01, which gives a possible trading interval of +/-$5.91 (+/-2.75%) up or down from last closing price. If Coffee takes out the full calculated possible swing range there will be an estimated 5.50% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $212.50 (1.21%) than the resistance at $220.45 (2.49%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Coffee commodity A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this commodity since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.566 Buy Candidate Upgraded

Predicted Opening Price for Coffee of Thursday, May 2, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.