Don't Ignore This Chart!

Bunge (BD) Does Some Jumping


There have been some Agriculture related stocks pushing to new 52 week highs recently. I wrote about Agrium (AGU.TO, AGU) recently. Today, Bunge (BD) jumped up to a 52-week high. This $10 Billion market cap company has just completed a one-year base and looks set to move higher. I usually like the SCTR to break into the top quadrant (above 75%) in relative strength. This appears to be climbing higher and recently pushed above 75. WIth the breakout to new highs in price and the S&P relative strength at retesting 9 month highs, this looks like the strength is improving. With volume around 1 million shares, this is nice.

The MACD is pushing to new 18-month highs, which suggests more momentum hitting the stock.

There was a great chart article by Carter Worth on CNBC on Friday. He analyzed industrial metals compared to food commodities. Its worth a watch I think.  Carter Worth - CNBC.

Good trading,
Greg Schnell, CMT, MFTA.

Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA). Learn More
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