Technical Analysis #C-ORANGE : 2020-06-30

Recommendation for Orange Juice: Buy

Buy Stop : Above 126.6

Stop Loss : Below 116.96

Indicator Value Signal
RSI Neutral
Donchian Channel Buy
MA(200) Buy
Fractals Buy
Parabolic SAR Sell

Chart Analysis

On the daily timeframe the ORANGE: D1 is rising above the 200-day moving average MA(200) which is rising itself. We believe the bullish momentum will continue after the price breaches above the upper Donchian boundary at 126.60. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 116.96. 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 (116.96) without reaching the order (126.60) we recommend cancelling the order: the market sustains internal changes which were not taken into account.

Fundamental Analysis

USDA forecast downgraded Florida orange crop for 2019-2020 season. Will the orange prices continue rising?