Technical Analysis #C-LCATTLE : 2020-03-24


Strong SellSellNeutralBuyStrong Buy

Above 96

Buy Stop

Below 86

Stop Loss

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MACD Neutral
MA(200) Neutral
Fractals Neutral
Parabolic SAR Buy
Bollinger Bands Neutral

Chart Analysis

IFC Markets Tech Analysis

On the daily timeframe, LCATTLE: D1 exceeded the resistance line of the short-term downtrend. It is trying to correct upward from its minimum since February 2010. A number of technical analysis indicators formed signals for a further increase. We do not exclude bullish movement if LCATTLE rises above its last upper fractal: 96. This level can be used as an entry point. The stop loss is possible below the Parabolic signal and the last lower fractal: 86. After opening a pending order, the stop loss should be moved following the Bollinger and Parabolic signals to the next fractal minimum. Thus, we change the potential profit / loss ratio in our favor. After the transaction, the most risk-averse traders can switch to a four-hour chart and set a stop loss, moving it in the direction of the trend. If the price overcomes the stop level (86) without activating the order (96), it is recommended to delete the order: some internal changes in the market weren’t taken into account.

Fundamental Analysis

The US Department of Agriculture reported a reduction in cattle livestock in slaughterhouses in February compared to last year. Will LCATTLE quotes grow?

According to the US Department of Agriculture (USDA), in February 2020 the slaughter of cattle in the United States amounted to 2.58 million heads. It decreased by 11% compared to January 2020, but increased by 5% compared to February 2019. According to USDA, the number of cattle placed on cattle placements in February fell by 8% compared to February 2019. Earlier, Tyson Foods, a large food company, noted that the demand for meat in the United States increased markedly against the backdrop of quarantine. India has reduced domestic supplies of beef meat due to unverified rumors that cattle may be somehow affected by the Covid-19 virus. There are no official statements yet. Rumors spread in the Indian states of Karnataka, Goa and Maharashtra.

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