Bunge Limited (NYSE: BG) is the global agribusiness as well as food company with operations along the farm-to-consumer food chain.

As per our previous report on BG as on 16^th May 2023, a ‘Buy’ recommendation was given on the stock at $91.99, and noted below are the details of support and resistance provided in our previous report:

Recommendation Summary as on May 16, 2023

BG’s Daily Chart

BG Daily Technical Chart, Data Source: REFINITIV

Considering the current trading levels as well as risks associated, it is prudent to liquidate the stock at the current levels.

Hence, a ‘Sell’ rating has been provided on the stock at the closing price of USD 102.98 per share, up by 1.25% as on 18^th July 2023.

Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate.

Note 1: Past performance is neither an indicator nor a guarantee of future performance.

Note 2: The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

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