During the Lightning Round segment of Mad Money Thursday night one caller asked Jim Cramer about Bunge Ltd. (BG) . "I think that's a good one. They're coming around," commented Cramer. Let's check and see what the charts look like.
In this daily bar chart of BG, below, we can see that prices collapsed in late February when they broke below key support around $52. The stock finally found buying support around $30 in the latter part of March as the broad market recovered. BG rallied in April and made a retest in May. Prices are now above the rising 50-day moving average line but still below the declining 200-day moving average line.
The On-Balance-Volume (OBV) line has led prices and stands at a new high. Buyers of BG have been aggressive. The Moving Average Convergence Divergence (MACD) oscillator is crossing the zero line now for an outright go long signal.