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Bunge Set to Possibly Rebound After Yesterday's Selloff of 2.76%

By David Diaz

Bunge (NYSE:BG) traded in a range yesterday that spanned from a low of $78.46 to a high of $80.51. Yesterday, the shares fell 2.8%, which took the trading range below the 3-day low of $80.88 on volume of 1.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Bunge on February 15th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $73.40. Since that recommendation, shares of Bunge have risen 11.5%. We continue to monitor BG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, Bunge share prices have been bracketed by a low of $46.08 and a high of $93.04 and are now at $79.35, 72% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.7% while the 200-day MA has slid 0.8%.

Keywords: rebounders Bunge

Ticker(s): BG