Sunoco LP Stock Forecast
Green day on Thursday for Sunoco LP
(Updated on Mar 28, 2024)
The Sunoco LP stock price gained 0.233% on the last trading day (Thursday, 28th Mar 2024), rising from $60.15 to $60.29. During the last trading day the stock fluctuated 1.28% from a day low at $59.76 to a day high of $60.53. The price has risen in 6 of the last 10 days but is still down by -0.58% for this period. Volume fell on the last day by -90 thousand shares and in total, 255 thousand shares were bought and sold for approximately $15.36 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.89% during the next 3 months and, with a 90% probability hold a price between $61.96 and $70.26 at the end of this 3-month period.
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SUN Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, March 27, 2024, and so far it has risen 0.233%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Sunoco LP stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $61.12 and $61.69. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Sunoco LP stock
On the downside, the stock finds support just below today's level from accumulated volume at $56.74 and $55.88. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Sunoco LP finds support just below today's level at $56.74. If this is broken, then the next support from accumulated volume will be at $55.88 and $54.85.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.765 between high and low, or 1.28%. For the last week the stock has had daily average volatility of 1.61%.
Our recommended stop-loss: $56.76 (-5.85%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (SUN) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Sunoco LP to open at $60.19, and during the day (based on 14 day Average True Range), to move between $59.10 and $61.48, which gives a possible trading interval of +/-$1.19 (+/-1.97%) up or down from last closing price. If Sunoco LP takes out the full calculated possible swing range there will be an estimated 3.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $60.65 (0.60%) than the support at $56.74 (5.89%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Sunoco LP stock A Buy?
Sunoco LP holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.535 Hold/Accumulate Unchanged
Predicted Opening Price for Sunoco LP of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$60.19 ( 0.163%) | $60.29 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SUN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 60.96 | 1.11 % | |
R2 | 60.66 | 0.621 % | ||
R1 | 60.48 | 0.322 % | ||
Current price: | 60.29 | |||
Support | S1 | 59.90 | -0.648 % | |
S2 | 59.72 | -0.95 % | ||
S3 | 59.43 | -1.43 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 64.19 | 6.47 % | |
R2 | 61.15 | 1.43 % | ||
R1 | 60.65 | 0.597 % | ||
Current price | 60.29 | |||
Support | S1 | 56.74 | -5.89% | |
S2 | 55.88 | -7.31% | ||
S3 | 54.85 | -9.02% |
SUN Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 25, 2024 | Feb 06, 2024 | Feb 20, 2024 | $0.84 | 1.33% |
2 | Oct 20, 2023 | Oct 27, 2023 | Nov 20, 2023 | $0.84 | 1.57% |
3 | Jul 25, 2023 | Aug 11, 2023 | Aug 21, 2023 | $0.84 | 1.87% |
4 | Apr 26, 2023 | May 05, 2023 | May 22, 2023 | $0.84 | 1.90% |
5 | Jan 25, 2023 | Feb 06, 2023 | Feb 21, 2023 | $0.83 | 1.77% |
FAQ
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