Sun Life Financial Inc Stock Forecast
Sun Life Financial Inc stock downgraded to Sell Candidate
(Updated on May 07, 2024)
The Sun Life Financial Inc stock price fell by -0.583% on the last day (Tuesday, 7th May 2024) from $53.15 to $52.84. During the last trading day the stock fluctuated 1.56% from a day low at $52.58 to a day high of $53.40. The price has been going up and down for this period, and there has been a 1.91% gain for the last 2 weeks. Volume has increased on the last day by 699 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 990 thousand shares were bought and sold for approximately $52.31 million.
The stock lies the upper part of a falling trend in the short term, and this may 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 $53.48 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 -4.82% during the next 3 months and, with a 90% probability hold a price between $47.20 and $50.91 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SLF Signals & Forecast
The Sun Life Financial 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 $52.10 and $52.60. 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). 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 Monday, May 06, 2024, and so far it has fallen -0.583%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A sell signal from a double top formation was found on Wednesday, March 13, 2024 and based on theory for this formation the price should fall by -0.480% to $52.59 within 13 trading days since signal was issued (Wednesday, May 08, 2024).
Support, Risk & Stop-loss for Sun Life Financial Inc stock
Sun Life Financial Inc finds support from accumulated volume at $52.46 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 $0.82 between high and low, or 1.56%. For the last week the stock has had daily average volatility of 1.36%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SLF) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Sun Life Financial Inc to open at $52.94, and during the day (based on 14 day Average True Range), to move between $52.09 and $53.59, which gives a possible trading interval of +/-$0.747 (+/-1.41%) up or down from last closing price. If Sun Life Financial Inc takes out the full calculated possible swing range there will be an estimated 2.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $52.46 (0.72%) than the resistance at $53.87 (1.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Sun Life Financial Inc will release earnings AMC on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.20. We will update the financials statements for Sun Life Financial Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 1.80% in the first trading day after earnings release.
Is Sun Life Financial Inc stock A Buy?
Sun Life Financial Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.457 Sell Candidate Downgraded
Predicted Opening Price for Sun Life Financial Inc of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $52.94 ( 0.189%) | $52.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SLF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 53.76 | 1.74 % | |
| R2 | 53.45 | 1.15 % | ||
| R1 | 53.25 | 0.782 % | ||
| Current price: | 52.84 | |||
| Support | S1 | 52.63 | -0.404 % | |
| S2 | 52.43 | -0.770 % | ||
| S3 | 52.12 | -1.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 55.11 | 4.30 % | |
| R2 | 53.96 | 2.12 % | ||
| R1 | 53.87 | 1.95 % | ||
| Current price | 52.84 | |||
| Support | S1 | 52.46 | -0.719% | |
| S2 | 51.82 | -1.93% | ||
| S3 | 51.66 | -2.23% |
SLF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 07, 2024 | Feb 27, 2024 | Mar 28, 2024 | $0.579 | 1.06% |
| 2 | Aug 09, 2023 | Nov 28, 2023 | Dec 29, 2023 | $0.570 | 1.10% |
| 3 | May 11, 2023 | May 30, 2023 | Jun 30, 2023 | $0.552 | 1.06% |
| 4 | Feb 08, 2023 | Feb 28, 2023 | Mar 31, 2023 | $0.530 | 1.13% |
| 5 | Nov 02, 2022 | Nov 22, 2022 | Dec 30, 2022 | $0.535 | 1.15% |
FAQ
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