Coffee Commodity Forecast

Red day on Thursday for Coffee commodity after losing 0.654%
(Updated on May 16, 2024)

KCUSX Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, May 06, 2024, and so far it has risen 1.20%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Coffee commodity holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $198.73 and $211.70. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. 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 $190.65 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This commodity may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this commodity is considered to be "high risk". During the last day, the commodity moved $0.750 between high and low, or 0.381%. For the last week, the commodity has had daily average volatility of 1.31%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (KCUSX) For The Upcoming Trading Day Of Friday 17th

For the upcoming trading day on Friday, 17th we expect Coffee to open at $197.25, and during the day (based on 14 day Average True Range), to move between $192.32 and $202.68, which gives a possible trading interval of +/-$5.18 (+/-2.62%) up or down from last closing price. If Coffee takes out the full calculated possible swing range there will be an estimated 5.24% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $200.60 (1.57%) than the support at $190.65 (3.47%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Coffee commodity A Buy?

The Coffee commodity holds several negative signals and despite the positive trend, we believe Coffee will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this commodity.

Current score: -2.157 Sell Candidate Unchanged

Predicted Opening Price for Coffee of Friday, May 17, 2024

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