SUN - Sunoco LP Fri 13'th Jan 2017
Stock analysis for Fri 13'th Jan 2017 (Updated daily)
Hold candidate since 2017-01-13
Sunoco LP Stock Analysis
Sunoco LP fell by -0.86% in the last day, from USD 26.88 to USD 26.65. , and has now fallen 3 day in a row The price has been going up and down for this period, and there has been a -0.19% loss for the last 2 weeks. Volume increased in the last day by 358 931 shares, but on falling prices. This is may be an early warning and risk is increased slightly for the next couple of days. In total there were 715 934 shares were bought and sold for approximately USD 19.08 million.
Sunoco LP lays the upper part of a wide and weak falling trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at USD 27.29 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -4.5% during the next 3 months and, with 90% probability will hold a price between USD 19.61 and USD 26.05 at the end of this period.
Sunoco LP holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately USD 26.96. On a fall, the stock will find some support from the long-term average at approximately USD 25.06. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. A buy signal was issued from a pivot bottom point on Tuesday December 20, 2016, which indicates further gains until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Relative Strength Index (RSI)
RSI14 is 51 and the stock is currently not being overbought or oversold
Support & Resistance
Sunoco LP finds support from accumulated volume at USD 26.52, USD 24.10, and USD 21.27. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 26.98, USD 27.00 and USD 27.23.
The stock is about to test the resistance from accumulated volume at USD 26.98 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved USD 0.68 between high and low, or 2.58%. For the last week, the stock has had a daily average volatility of 3.07%.
Our recommended stoploss: USD 26.58 (-0.26%) ( criteria: risk and position in trend)
Sunoco LP holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend a hold or accumulate position awaiting further development. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Hold/Accumulate.