The USD 68.5 long term support, currently tested, should allow Bunge to rally again.

From a fundamental viewpoint, the security is cheap with a PER of 9.2x for 2013 and 8.48x for 2014. Besides, EV/Sales is low with a ratio at 0.23x for this year.

Technically, even if moving weekly averages are still in a downtrend, a positive reaction in the USD 68.5 area, corresponding to the 50-week moving average, should stop this trend and allow a technical rebound towards USD 73.25. Moreover, technical indicators show a significant oversold condition which strengthens this bullish scenario.

In this context, investors could take a long position in case of a comeback to the USD 68.5 long term support to target USD 73.25. A stop loss will be set below USD 68.5.