Recommendation for Orange Juice: Strong Buy
Buy Stop : Above 119.95
Stop Loss : Below 110.21
| Indicator | Value | Signal |
|---|---|---|
| RSI | Neutral | |
| MACD | Neutral | |
| Donchian Channel | Neutral | |
| MA(200) | Buy | |
| Fractals | Buy | |
| Parabolic SAR | Buy |
Chart Analysis
On the daily timeframe the ORANGE: D1 is rising above the 200-day moving average MA(200) which has levelled off. We believe the bullish momentum will continue after the price breaches above the upper Donchian boundary at 119.95. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 110.21. After placing the pending order the stop loss is to be moved every day to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop-loss level (110.21) without reaching the order (119.95) we recommend cancelling the order: the market sustains internal changes which were not taken into account.
Fundamental Analysis
USDA forecast lower Florida orange crop for 2019-2020 season. Will the orange prices continue rising?