#C-LHOG technical analysis : Will the LHOG continue rebounding?

Dmitry Lukashov IFC Markets

Recommendation for Lean Hog: Strong Buy

Buy Stop : Above 58.73

Stop Loss : Below 55.74

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

Chart Analysis

On the 4-hour timeframe #C-LHOG: H4 has breached above the 200-period moving average MA(200), which has levelled off. We believe the bullish momentum will continue as the price breaches above the upper Donchian boundary at 58.73. A pending order to buy can be placed above that level. The stop loss can be placed below 55.74. After placing the 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 (55.74) without reaching the order (58.73), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.

Fundamental Analysis

Lean hog price is rising supported by rising Chinese imports following US-China trade deal. Will the LHOG continue rebounding?

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Author

Dmitry Lukashov

IFC Markets

Dimtry Lukashov is the senior analyst of IFC Markets. He started his professional career in the financial market as a trader interested in stocks and obligations.

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