Sun Life Financial Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Sun Life Financial Inc stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 03, 2024)
The Sun Life Financial Inc stock price gained 0.81% on the last trading day (Friday, 3rd May 2024), rising from $52.06 to $52.48. 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 0.90% from a day low at $52.13 to a day high of $52.60. The price has risen in 6 of the last 10 days and is up by 2.68% 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, 22 thousand more shares were traded than the day before. In total, 360 thousand shares were bought and sold for approximately $18.88 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 -4.01% during the next 3 months and, with a 90% probability hold a price between $47.78 and $51.70 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
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 4.52%. 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). 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. 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 $52.69. On a fall, the stock will find some support from the short-term average at $51.67. 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.
Support, Risk & Stop-loss for Sun Life Financial Inc stock
Sun Life Financial Inc finds support from accumulated volume at $52.30 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 $0.471 between high and low, or 0.90%. For the last week the stock has had daily average volatility of 1.31%.
Our recommended stop-loss: $49.89 (-4.94%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (SLF) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Sun Life Financial Inc to open at $52.40, and during the day (based on 14 day Average True Range), to move between $51.74 and $53.22, which gives a possible trading interval of +/-$0.738 (+/-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 2.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $52.30 (0.34%) than the resistance at $53.87 (2.65%), 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?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.080 Buy Candidate Upgraded
Predicted Opening Price for Sun Life Financial Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $52.40 ( 0.146%) | $52.48 |
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 | 52.87 | 0.750 % | |
| R2 | 52.69 | 0.408 % | ||
| R1 | 52.58 | 0.196 % | ||
| Current price: | 52.48 | |||
| Support | S1 | 52.22 | -0.489 % | |
| S2 | 52.11 | -0.700 % | ||
| S3 | 51.93 | -1.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 55.11 | 5.01 % | |
| R2 | 53.96 | 2.82 % | ||
| R1 | 53.87 | 2.65 % | ||
| Current price | 52.48 | |||
| Support | S1 | 52.30 | -0.343% | |
| S2 | 51.82 | -1.26% | ||
| S3 | 51.66 | -1.56% |
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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