Sun Life Financial Inc. Stock Forecast
Weaker technical forecast for Sun Life Financial Inc. as stock downgraded to Sell Candidate.
(Updated on Jul 02, 2024)
The Sun Life Financial Inc. stock price fell by -0.164% on the last day (Tuesday, 2nd Jul 2024) from $67.08 to $66.97. During the last trading day the stock fluctuated 1.01% from a day low at $66.53 to a day high of $67.20. The price has risen in 6 of the last 10 days and is up by 2.01% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 million shares and in total, 2 million shares were bought and sold for approximately $164.49 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -8.11% during the next 3 months and, with a 90% probability hold a price between $58.80 and $64.18 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SLF.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 2.73%. Further rise is indicated until a new top pivot has been found. 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. The Sun Life Financial Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $67.74. On a fall, the stock will find some support from the short-term average at $66.84. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Sun Life Financial Inc. stock
Sun Life Financial Inc. finds support from accumulated volume at $66.37 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 $0.670 between high and low, or 1.01%. For the last week the stock has had daily average volatility of 1.15%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SLF.TO) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Sun Life Financial Inc. to open at $66.90, and during the day (based on 14 day Average True Range), to move between $66.05 and $67.89, which gives a possible trading interval of +/-$0.92 (+/-1.38%) 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 2.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $67.52 (0.82%) than the support at $66.37 (0.90%), 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 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: -1.255 Sell Candidate Downgraded
Predicted Opening Price for Sun Life Financial Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $66.90 ( 0.105%) | $66.97 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SLF.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 67.57 | 0.90% |
| R2 | 67.31 | 0.514% |
| R1 | 67.16 | 0.278% |
| Price | 66.97 | |
| S1 | 66.64 | -0.487% |
| S2 | 66.49 | -0.723% |
| S3 | 66.23 | -1.10% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 69.17 | 3.29% |
| R2 | 68.31 | 2.00% |
| R1 | 67.52 | 0.82% |
| Price | 66.97 | |
| S1 | 66.37 | -0.90% |
| S2 | 65.65 | -1.97% |
| S3 | 65.19 | -2.66% |
SLF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 29, 2024 | May 29, 2024 | Jun 28, 2024 | $0.81 | 1.21% |
| 2 | Feb 07, 2024 | Feb 28, 2024 | Mar 28, 2024 | $0.780 | 1.06% |
| 3 | Feb 07, 2024 | Feb 27, 2024 | Mar 28, 2024 | $0.780 | 1.06% |
| 4 | Nov 28, 2023 | Nov 28, 2023 | Dec 29, 2023 | $0.750 | 1.09% |
| 5 | Aug 08, 2023 | Aug 29, 2023 | Sep 29, 2023 | $0.750 | 1.13% |
FAQ
Click here for our free guide on how to buy Sun Life Financial Inc. Stock.
