Recommendation for Lean Hog: Strong Buy
Buy Stop : Above 58.73
Stop Loss : Below 55.74
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.
Lean hog price is rising supported by rising Chinese imports following US-China trade deal. Will the LHOG continue rebounding?
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This overview has an informative character and is not financial advice or a recommendation. IFCMarkets. Corp. under any circumstances is not liable for any action taken by someone else after reading this article.