Inverse Head & Shoulder is a pattern that could potentially lead to higher prices if it breaks its resistance level. Here there is something that looks like head and two smaller shoulders.
These food additive companies manufacture agricultural ingrediants and additives that nakes its way to prodcust in grocery stores. Archer Daniels Midlands Co, Bunge Limited, International Flavors & Fragrances, Ingredion Inc, DuPont De Nemours, LyondellBasell Industries, Kerry Group, and Givauden are arguably the largest in this type of category.
These companies...
Bunge Limited ( NYSE:BG ) is an American agribusiness and food company, incorporated in Bermuda, and headquartered in St. Louis, Missouri, United States. As well as being an international soybean exporter, it is also involved in food processing, grain trading, and fertilizer. The daily chart shows the stock exploded to the upside from $30 in 2020 to a high of...
Big picture indicates Bunge has completed wave b of larger degree wave 4 (started in 2008) and has printed wave (1) of circle C targeting 25-30 level. Expect to see a pb in (2) up to 110 zone. Be prepared for a strong move down in wave (3) over the next 10-12 months. See similar set-up in FCX.
Looking at the monthly chart, a H&S formed in 2008 and hit its target. The current price is near that high again and forming a similar pattern. If price breaks and holds below neck line, down side target is in the 50s. I have taken out a call and put, even if short term price goes up I am rolling my put over in hopes the H&S plays out.
Not financial advice.
The BBs are curling in and all the oscillators are coiling. A big move, up or down, will be coming this week with earnings. A breakout up will look to ~ 117 and a break down will be in the low 80s.
Not financial advise.
BG has formed a bullish structure above a down channel and above another channel
I expect price to show a rise which I have displayed with the bars pattern tool
Bullish take
BG has been showing strong upside signs with moving averages crossing up.
We also see a potential Cup and Handle which strong upside to $127.57.
However, it's formed with a GAP... And as I've mentioned with many analyses, Gaps tend to close 70% of the time which could bring the price lower.
This makes this analysis a medium probability trade where I'd only risk...
Order SELL BG NYSE Stop 82.57 LMT 82.57 will be automatically canceled at 20230401 01:00:00 EST
BG weekly bearish hammer if we break lower will run into next support.
The PEAD projected a Bearish outlook for $BG after a Negative Under reaction following its earnings release placing the stock in drift D with an expected accuracy of 50%.
The stock has fallen out of the bullish trend channel and the last candlestick has long shadow.
RSI is 51 and heading down. The MACD, DMI gave weak bearish signal too.
Entry price: 99.5
Target price 1: 92 +8.1%
Target price 2: -
Stop loss: 102 -2.5%
Period lenght: 7-8 days
$BG Breakout in 4h Chart on volume after consolidation phase - Target 131$
All Entry Criteria have been met:
1. Price above 10, 20 & 50 EMA --> Check
2. Consolidation Phase in Uptrend --> Check
3. Breakout on above average Volume --> Check
