BG Technical Analysis - BUNGE GLOBAL SA

Technical Rating and Analysis

We assign a technical rating of 4 out of 10 to BG. BG has been a bad performer in the overall market. Some doubts are observed in the medium term time frame, but recent action was again very positive.

When comparing the yearly performance of all stocks, BG is a bad performer in the overall market: 75% of all stocks are doing better.

The long term trend is still neutral, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.

In the last month BG has a been trading in the 76.01 - 85.31 range, which is quite wide. It is currently trading near the high of this range.

BG has an average volume of 2031750 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

BG is part of the Food Products industry. There are 89 other stocks in this industry, BG did better than 60% of them.

BG is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so BG is lagging the market.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

BG has an average technical rating and the quality of the presented setup is also not ideal at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

72.27

89.03

4 important support areas can be observed.

A support zone ranging from 80.91 to 81.70. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A support zone ranging from 75.92 to 76.73. This zone is formed by a combination of multiple trend lines in multiple time frames.
Support @74.42 from a horizontal line in the weekly time frame.
A support zone ranging from 73.00 to 73.20. This zone is formed by a combination of multiple trend lines in multiple time frames.

We can see 2 important resistance areas.

Resistance @84.20 from a trend line in the weekly time frame.
A resistance zone ranging from 86.28 to 88.15. This zone is formed by a combination of multiple trend lines in multiple time frames.

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	NEUTRAL	NEUTRAL	The long term trend for BG is neutral.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for BG is up.
ChartMill Relative Strength	25.35	NEGATIVE	BG has a low relative strength, it was outperformed by 74.65% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	MIXED	The current price of BG is above a declining SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of BG is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of BG is above the rising SMA(200).
Relative Strength Index/RSI (14)	57.8	NEUTRAL	The RSI value for BG is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.39	POSITIVE	The MACD value suggests BG has a positive trend.
Stochastics (14,3)	88.27	OVERBOUGHT	The high Stochastics value suggests BG may be overbought.
Average True Range in percent/ATR (20)	2.64	MEDIUM VOLATILITY	The ATR as a percentage value for BG suggests some volalility.
Average Directional Index/ADX (14)	13.23	NEGATIVE	The low ADX value for BG suggests a weak or negative trend.