Sumitomo Mitsui Financial Group Inc Stock Forecast
Sumitomo Mitsui Financial Group Inc stock price ended at $11.22 on Friday, after losing 1.41%.
(Updated on Apr 26, 2024)
The Sumitomo Mitsui Financial Group Inc stock price fell by -1.41% on the last day (Friday, 26th Apr 2024) from $11.38 to $11.22. During the last trading day the stock fluctuated 0.98% from a day low at $11.18 to a day high of $11.29. The price has risen in 5 of the last 10 days but is still down by -2.52% for this period. Volume has increased on the last day by 271 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, 772 thousand shares were bought and sold for approximately $8.66 million.
Given the current short-term trend, the stock is expected to rise 11.61% during the next 3 months and, with a 90% probability hold a price between $12.52 and $14.59 at the end of this 3-month period.
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SMFG Signals & Forecast
There are few to no technical positive signals at the moment. The Sumitomo Mitsui Financial Group Inc 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 $11.29 and $11.57. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 08, 2024, and so far it has fallen -9.00%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. 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 $11.17 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 $0.110 between high and low, or 0.98%. For the last week the stock has had daily average volatility of 0.82%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SMFG) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Sumitomo Mitsui Financial Group Inc to open at $11.23, and during the day (based on 14 day Average True Range), to move between $11.05 and $11.39, which gives a possible trading interval of +/-$0.172 (+/-1.54%) 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 3.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $11.17 (0.45%) than the resistance at $11.52 (2.67%), 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?
The Sumitomo Mitsui Financial Group Inc stock holds several negative signals and despite the positive trend, we believe Sumitomo Mitsui Financial Group Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.782 Sell Candidate Unchanged
Predicted Opening Price for Sumitomo Mitsui Financial Group Inc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $11.23 ( 0.0891%) | $11.22 |
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 | 11.34 | 1.07 % | |
| R2 | 11.30 | 0.695 % | ||
| R1 | 11.27 | 0.464 % | ||
| Current price: | 11.22 | |||
| Support | S1 | 11.19 | -0.285 % | |
| S2 | 11.16 | -0.517 % | ||
| S3 | 11.12 | -0.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.77 | 4.90 % | |
| R2 | 11.76 | 4.81 % | ||
| R1 | 11.52 | 2.67 % | ||
| Current price | 11.22 | |||
| Support | S1 | 11.17 | -0.446% | |
| S2 | 10.62 | -5.35% | ||
| S3 | 10.42 | -7.13% |
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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