Bunge Ltd : We anticipate a reversal

02/14/2013 | 05:21am Opinion : Bullish above 72 USD Target price : 79.9 USD Potential: 8.84% Stop loss: 69.3 USD

NYSE Food Processing

The upward trend could come to support Bunge in the coming sessions.

Moreover, at current price, the company is trading 9.78 times its earnings for this year and thus has a significant potential.

Bunge share price is in bullish trend in the medium and long term. In weekly data, moving averages are well-oriented. In the present configuration, the process is very gradual; however, prices have just begun a consolidation phase. The stock is now near the USD 72 short term support and the 100-day moving average. This should catapult the security toward the USD 79.9 resistance.

The most active investors can buy the share in the USD 72 support area and target a return toward USD 79.9. A stop loss can be placed under the USD 72 support.

Camille Chretien Copyright (c) 2013 4-Traders.com

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