Higher US beef demand bullish for LCATTLE
Technical Analysis Summary Live Cattle: Buy
| Indicator | Value | Signal |
| RSI | Sell | |
| MACD | Buy | |
| Donchian Channel | Buy | |
| MA(200) | Buy | |
| Fractals | Buy | |
| Parabolic SAR | Buy |
Chart Analysis
The #C-LCATTLE technical analysis of the price chart in daily timeframe shows #C-LCATTLE: Daily is rising above the 200-day moving average MA(200), which is falling. We believe the bullish momentum will continue after the price breaches above the upper Donchian boundary at 125.12. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 119.36. 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 (119.36) without reaching the order (125.12) we recommend cancelling the order: the market sustains internal changes which were not taken into account.
Fundamental Analysis of -
US retail sales of beef rose in February. Will the LCATTLE continue rising?
The coronavirus outbreak sparked a boom for meat retailers. With many restaurants closed customers switched to dining at home, many buying in bulk from meat retailers. Beef sales at US grocery stores and other retail outlets totaled $34.5 billion during the 52 weeks through the end of February 2021, up 26% from the same period a year earlier, according to NielsenIQ. Higher beef demand is bullish for LCATTLE.