We do a lot of homework (research) for our members at EarningsBeats.com.
This research includes the organization of many ChartLists. I wrote about three of these ChartLists, in particular, in my Trading Places blog on Saturday. You can read about it HERE. Between the three ChartLists, there were 1022 individual charts. A fourth ChartList, our Bullish Trifecta ChartList (BTCL), includes only those companies that meet the criteria of ALL 3 ChartLists. There are only 37 such companies right and Bunge Ltd (BG) is one of those. BG resides in the defensive food products industry ($DJUSFP) and has been a leader throughout 2022. It's pulled back approximately 15% from its April high, however, and approaching a support zone from 102.30-105.98. I'm expecting to see BG find a short-term bottom in this area:
As long as BG continues to close above 102.30, I'd be ok holding it. In the meantime, a quick bounce to the 20-day EMA could provide a quick profit on a trade. If you want to hold a bit longer, I expect BG to eventually move back up to test recent price resistance near 118. A move through that level would likely lead to a test of the April high closer to 127.50.
Currently, 27 of our 37 BTCL stocks have SCTR scores of 75 or higher, indicating that they remain very strong stocks on a relative basis. For all of your loyalty and support, we like to periodically share some of our work with you. You can view/download our Bullish Trifecta ChartList (BTCL) by clicking on the link below and typing in the password provided when prompted:
- Link: https://stockcharts.com/articles/sharedcharts.php?cc=1002951&;listNum=223
- Password (case sensitive): BTCL5353
We hope you enjoy this organized ChartList. If you'd like to try all of the services we offer, simply sign up for a FREE 30-day trial!
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Happy Trading!Tom BowleyChief Market StrategistEarningsBeats.comBetter Timing. Better Trades. |