Orange Juice Commodity Forecast

Orange Juice commodity upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 31, 2024)

OJUSX Signals & Forecast

The Orange Juice 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 $467.96. On a fall, the commodity will find some support from the long-term average at approximately $405.28. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -9.78%. Further fall is indicated until a new bottom pivot has been found. Orange Juice gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for Orange Juice commodity

On the downside, the commodity finds support just below today's level from accumulated volume at $394.40 and $363.75. There is a natural risk involved when a commodity is testing a support level, since if this is broken, the commodity then may fall to the next support level. In this case, Orange Juice finds support just below today's level at $394.40. If this is broken, then the next support from accumulated volume will be at $363.75 and $359.75.

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 between high and low, or 0%. For the last week, the commodity has had daily average volatility of 0.278%.

Our recommended stop-loss: $416.48 (-4.74%) (This commodity has high daily movements and this gives high risk. There is a sell signal from a pivot top found 39 days ago.)

Trading Expectations (OJUSX) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Orange Juice to open at $437.20, and during the day (based on 14 day Average True Range), to move between $427.43 and $446.97, which gives a possible trading interval of +/-$9.77 (+/-2.24%) up or down from last closing price. If Orange Juice takes out the full calculated possible swing range there will be an estimated 4.47% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $445.95 (2.00%) than the support at $394.40 (9.79%), 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 Orange Juice commodity A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Orange Juice commodity to perform well in the short-term. We have upgraded our analysis conclusion for this commodity since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.660 Buy Candidate Upgraded

Predicted Opening Price for Orange Juice of Monday, June 3, 2024

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