Bunge Ltd Forecast and Stock Analysis
Technical BGEPF stock analysis for March 22, 2019.
Bunge Ltd gained 1.03% in the last trading day, rising from $97.50 to $98.50 The price has risen in 5 of the last 10 days and is up by 1.87% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 6 080 more shares were traded than the day before. In total, 6 108 shares bought and sold for approximately $601 638.00.
Close price at the end of the last trading day (Friday, 22nd Mar 2019) of the BGEPF stock was $98.50. This is 1.03% more than the trading day before Thursday, 21st Mar 2019.
During day the stock fluctuated 1.47% from a day low at $97.07 to a day high of $98.50.
30 day high of the BGEPF stock price was $99.50 and low was $94.51.
90 day high was $102.28 and low was $94.51.
52 week high for the Bunge Ltd - $115.09 and low - $94.51.
Given the current horizontal trend you can expect Bunge Ltd with 90% probability to be traded between $93.36 and $99.54 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Only positive signals in the chart today. Bunge Ltd holds buy signals from both short- and long-term moving averages, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down there will be some support from the lines at $97.60 and $97.71. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday March 07, 2019, which indicates further gains until a new top pivot has been found. Bunge Ltd has rising volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Relative Strength Index (RSI)
RSI14 is 54 and the stock is currently not being overbought or oversold
Support & Resistance
Bunge Ltd finds support from accumulated volume at $97.50.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $1.43 (1.47%) between high and low. For the last week, the stock has had a daily average volatility of 0.88%.
Our recommended stoploss: $93.05 (-5.53%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 11 days ago.)
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Evaluation: Buy Candidate
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for this stock to perform well in the short-term period. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Buy Candidate.