CFD Trading – Buy Bunge Ltd. (BG.NYS) @ $112.55. Stop @ $106.10 and Target @ $121.90.

BUNGE LTD Stock Code BG.NYS

Outlook

Price reached a high of $128.40 on 21 April 2022 and went into a correction. The decline was supported by the cloud during the price correction, keeping the uptrend intact. In the previous trading session, price moved above the cloud, hinting that the price correction could have ended. Lagging Span is below price of 26 days ago but is above the cloud at the moment.  MACD is bearish but could be turning up and is hinting at a possible price rally. If price is able to stay above the cloud, it could be heading towards the previous high at $121.90 in the next 2-3 weeks.

Strategy                  

$112.55              Buy

$121.90              Price Target

$106.10              Risk Management Stop

3 weeks              Trade Duration