Sumitomo Mitsui Financial Group Inc Stock Forecast
Sumitomo Mitsui Financial Group Inc stock price ended at $11.52 on Monday, after gaining 0.0869%.
(Updated on Apr 15, 2024)
The Sumitomo Mitsui Financial Group Inc stock price gained 0.0869% on the last trading day (Monday, 15th Apr 2024), rising from $11.51 to $11.52. During the last trading day the stock fluctuated 1.65% from a day low at $11.52 to a day high of $11.71. The price has been going up and down for this period, and there has been a 0.79% gain for the last 2 weeks. Volume fell on the last day by -170 thousand shares and in total, 843 thousand shares were bought and sold for approximately $9.71 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current short-term trend, the stock is expected to rise 19.69% during the next 3 months and, with a 90% probability hold a price between $13.79 and $15.81 at the end of this 3-month period.
SMFG Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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. On corrections up, there will be some resistance from the lines at $11.60 and $11.60. 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 -6.57%. 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). 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
On the downside, the stock finds support just below today's level from accumulated volume at $10.62 and $10.42. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Sumitomo Mitsui Financial Group Inc finds support just below today's level at $10.62. If this is broken, then the next support from accumulated volume will be at $10.42 and $10.29.
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 $0.190 between high and low, or 1.65%. For the last week the stock has had daily average volatility of 1.22%.
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 Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect Sumitomo Mitsui Financial Group Inc to open at $11.58, and during the day (based on 14 day Average True Range), to move between $11.32 and $11.72, which gives a possible trading interval of +/-$0.196 (+/-1.70%) 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 3.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.76 (2.08%) than the support at $10.62 (7.81%), 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 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: -1.502 Sell Candidate Unchanged
Predicted Opening Price for Sumitomo Mitsui Financial Group Inc of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| $11.58 ( 0.550%) | $11.52 |
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 | 11.77 | 2.20 % | |
| R2 | 11.70 | 1.57 % | ||
| R1 | 11.66 | 1.18 % | ||
| Current price: | 11.52 | |||
| Support | S1 | 11.51 | -0.0803 % | |
| S2 | 11.47 | -0.470 % | ||
| S3 | 11.39 | -1.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.04 | 4.51 % | |
| R2 | 11.77 | 2.17 % | ||
| R1 | 11.76 | 2.08 % | ||
| Current price | 11.52 | |||
| Support | S1 | 10.62 | -7.81% | |
| S2 | 10.42 | -9.55% | ||
| S3 | 10.29 | -10.68% |
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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