Sumitomo Mitsui Financial Group Inc Stock Forecast
Stronger technical forecast for Sumitomo Mitsui Financial Group Inc stock price after Friday trading.
(Updated on May 03, 2024)
The Sumitomo Mitsui Financial Group Inc stock price gained 1.05% on the last trading day (Friday, 3rd May 2024), rising from $11.44 to $11.56. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.783% from a day low at $11.50 to a day high of $11.59. The price has risen in 6 of the last 10 days and is up by 3.49% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 290 thousand more shares were traded than the day before. In total, 704 thousand shares were bought and sold for approximately $8.14 million.
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 8.43% during the next 3 months and, with a 90% probability hold a price between $12.04 and $14.06 at the end of this 3-month period.
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SMFG Signals & Forecast
The Sumitomo Mitsui Financial Group Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $11.37 and $11.51. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, March 08, 2024, and so far it has fallen -6.24%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Monday, May 08, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Monday, May 08, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Sumitomo Mitsui Financial Group Inc stock
Sumitomo Mitsui Financial Group Inc finds support from accumulated volume at $11.52 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0900 between high and low, or 0.783%. For the last week the stock has had daily average volatility of 0.87%.
Our recommended stop-loss: $10.87 (-5.96%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 39 days ago.)
Trading Expectations (SMFG) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Sumitomo Mitsui Financial Group Inc to open at $11.55, and during the day (based on 14 day Average True Range), to move between $11.40 and $11.72, which gives a possible trading interval of +/-$0.159 (+/-1.37%) up or down from last closing price. If Sumitomo Mitsui Financial Group Inc takes out the full calculated possible swing range there will be an estimated 2.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $11.52 (0.35%) than the resistance at $11.76 (1.73%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sumitomo Mitsui Financial Group Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Sumitomo Mitsui Financial Group Inc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.845 Buy Candidate Upgraded
Predicted Opening Price for Sumitomo Mitsui Financial Group Inc of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$11.55 ( 0.0865%) | $11.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SMFG
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 11.64 | 0.692 % | |
R2 | 11.61 | 0.395 % | ||
R1 | 11.58 | 0.211 % | ||
Current price: | 11.56 | |||
Support | S1 | 11.52 | -0.384 % | |
S2 | 11.49 | -0.568 % | ||
S3 | 11.46 | -0.87 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 12.04 | 4.15 % | |
R2 | 11.77 | 1.82 % | ||
R1 | 11.76 | 1.73 % | ||
Current price | 11.56 | |||
Support | S1 | 11.52 | -0.346% | |
S2 | 11.17 | -3.37% | ||
S3 | 10.62 | -8.13% |
SMFG Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Sep 12, 2023 | Sep 28, 2023 | Dec 08, 2023 | $0.150 | 1.49% |
2 | Mar 09, 2023 | Mar 30, 2023 | Jul 10, 2023 | $0.140 | 1.62% |
3 | Sep 14, 2022 | Sep 29, 2022 | Sep 30, 2022 | $0.140 | 2.55% |
4 | Mar 29, 2021 | Mar 29, 2021 | Jul 08, 2021 | $0.171 | 2.56% |
5 | Sep 28, 2020 | Sep 28, 2020 | Dec 10, 2020 | $0.183 | 3.12% |
FAQ
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