Suncor Energy Stock Forecast
About Chart
Golden Star
The Golden Star is a refined bullish signal based on the Golden Cross, developed by Jim Stromberg, incorporating additional time frame-specific moving averages and precise price line crossings. This signal is effective for liquid stocks, highlighting short-term upward momentum.
Death Star
The Death Star, developed by Jim Stromberg, is the bearish counterpart to the Golden Star, serving as a sell signal. It is triggered by specific moving average crossings on the price line, indicating a likely prolonged decline in the stock.
Golden Cross
The Golden Cross is a bullish signal where the short-term moving average crosses above the long-term moving average, indicating potential upward momentum.
Death Cross
The Death Cross is a bearish signal where the short-term moving average crosses below the long-term moving average, indicating potential downward momentum.
Pivot Bottom
A Pivot Bottom is a significant low point identified by algorithms developed by StockInvest.us. While it may indicate a short-term directional change, it does not necessarily imply a complete trend reversal. Pivot Bottoms are marked as green circles on the price line.
Pivot Top
A Pivot Top represents a significant high point identified by algorithms developed by StockInvest.us. Similar to Pivot Bottoms, it may suggest a short-term directional change within the main trend, rather than a full trend reversal. Pivot Tops are marked as red circles on the price line.
RSI Oversold
RSI oversold indicates that a stock has declined significantly and may be undervalued, potentially presenting a buying opportunity. This condition is marked by a green line on the chart but should be confirmed with other indicators before taking action.
RSI Overbought
RSI overbought suggests that a stock has risen rapidly and may be due for a pullback. It is marked by a red line on the chart, signaling increased risk. This doesn’t necessarily mean it’s time to sell, but it’s important to monitor closely.
Accumulated Volume
The bars indicate how much stock has been traded on each price during the chart period.
Buy Signal (MA)
Buy signal from moving average indicating potential upward movement.
Sell Signal (MA)
Sell signal from moving average indicating potential downward movement.
Stock Analysis |
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Risk Assessment |
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Trading Strategy |
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Weaker technical forecast for Suncor Energy as stock downgraded to Strong Sell Candidate
(Updated on Nov 12, 2024)
Sell candidate since Nov 08, 2024
Loss -2.66%
The Suncor Energy stock price fell by -1.83% on the last day (Tuesday, 12th Nov 2024) from $38.83 to $38.12. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.88% from a day low at $37.90 to a day high of $38.99. The price has been going up and down for this period, and there has been a 0.13% gain for the last 2 weeks. Volume has increased on the last day by 1 million 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, 5 million shares were bought and sold for approximately $192.40 million.
The stock lies in the middle of a wide and 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 -3.79% during the next 3 months and, with a 90% probability hold a price between $33.66 and $38.32 at the end of this 3-month period.
SU Signals & Forecast
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 Suncor Energy 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 $38.79 and $38.72. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, October 07, 2024, and so far it has fallen -5.81%. 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.
Support, Risk & Stop-loss for Suncor Energy stock
Suncor Energy finds support from accumulated volume at $38.00 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 $1.09 between high and low, or 2.88%. For the last week the stock has had daily average volatility of 2.23%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SU) For The Upcoming Trading Day Of Wednesday 13th
For the upcoming trading day on Wednesday, 13th we expect Suncor Energy Inc to open at $38.34, and during the day (based on 14 day Average True Range), to move between $37.25 and $38.99, which gives a possible trading interval of +/-$0.87 (+/-2.28%) up or down from last closing price. If Suncor Energy Inc takes out the full calculated possible swing range there will be an estimated 4.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $38.00 (0.31%) than the resistance at $38.83 (1.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Suncor Energy Inc stock A Buy?
Suncor Energy holds several negative signals and is within a wide and falling trend, so we believe 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 Sell to a Strong Sell candidate.
Current score: -5.931 Strong Sell Candidate Downgraded
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Predicted Fair Opening Price
Predicted fair opening price on November 13, 2024 - $38.34 ( 0.568%).Trading levels for SU
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 39.43 | 3.43% |
R2 | 39.01 | 2.34% |
R1 | 38.75 | 1.66% |
Price | 38.12 | |
S1 | 37.92 | -0.524% |
S2 | 37.66 | -1.20% |
S3 | 37.25 | -2.29% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 39.72 | 4.20% |
R2 | 39.16 | 2.73% |
R1 | 38.83 | 1.86% |
Price | 38.12 | |
S1 | 38.00 | -0.315% |
S2 | 37.40 | -1.89% |
S3 | 36.51 | -4.22% |
SU Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Aug 06, 2024 | Sep 04, 2024 | Sep 25, 2024 | $0.397 | 1.06% |
2 | May 07, 2024 | Jun 04, 2024 | Jun 25, 2024 | $0.397 | 1.05% |
3 | Mar 01, 2024 | Mar 01, 2024 | Mar 25, 2024 | $0.404 | 1.10% |
4 | Nov 14, 2023 | Nov 30, 2023 | Dec 22, 2023 | $0.390 | 1.22% |
5 | Aug 14, 2023 | Aug 31, 2023 | Sep 25, 2023 | $0.390 | 1.14% |
FAQ
Click here for our free guide on how to buy Suncor Energy Stock.