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Look for Shares of Bunge to Potentially Rebound after Yesterday's 2.76% Sell Off

By Amy Schwartz

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, shares of Bunge have traded between a low of $46.08 and a high of $93.04 and are now at $79.35, which is 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