0% commission for ETF tradesSunoco LP Stock Forecast
AI Analysis of SUN
| Stock Analysis |
|
| Risk Assessment |
|
| Trading Strategy |
|
Sunoco LP stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Sep 13, 2024)
The Sunoco LP stock price gained 0.356% on the last trading day (Friday, 13th Sep 2024), rising from $53.31 to $53.50. During the last trading day the stock fluctuated 1.82% from a day low at $53.09 to a day high of $54.05. The price has fallen in 6 of the last 10 days and is down by -2.41% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 67 thousand more shares were traded than the day before. In total, 258 thousand shares were bought and sold for approximately $13.81 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 -7.52% during the next 3 months and, with a 90% probability hold a price between $44.91 and $51.31 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.
Have specific questions? Chat with our AI Analyst now!
SUN Signals & Forecast
The Sunoco LP stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $52.60 and $53.15. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, August 29, 2024, and so far it has fallen -2.41%. 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).
Support, Risk & Stop-loss for Sunoco LP stock
Sunoco LP finds support from accumulated volume at $52.90 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 $0.96 between high and low, or 1.82%. For the last week the stock has had daily average volatility of 2.25%.
Our recommended stop-loss: $51.23 (-4.24%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 23 days ago.)
Trading Expectations (SUN) For The Upcoming Trading Day Of Monday 16th
For the upcoming trading day on Monday, 16th we expect Sunoco LP to open at $53.55, and during the day (based on 14 day Average True Range), to move between $52.17 and $54.83, which gives a possible trading interval of +/-$1.33 (+/-2.48%) up or down from last closing price. If Sunoco LP takes out the full calculated possible swing range there will be an estimated 4.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $53.73 (0.43%) than the support at $52.90 (1.12%), 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 Sunoco LP 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
Current score: 1.105 Buy Candidate Upgraded
Predicted Opening Price for Sunoco LP of Monday, September 16, 2024
| Fair opening price September 16, 2024 | Current price |
|---|---|
| $53.55 ( 0.0841%) | $53.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SUN
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 54.51 | 1.89% |
| R2 | 54.14 | 1.20% |
| R1 | 53.91 | 0.773% |
| Price | 53.50 | |
| S1 | 53.18 | -0.605% |
| S2 | 52.95 | -1.03% |
| S3 | 52.58 | -1.72% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 56.13 | 4.92% |
| R2 | 54.64 | 2.13% |
| R1 | 53.73 | 0.430% |
| Price | 53.50 | |
| S1 | 52.90 | -1.12% |
| S2 | 50.79 | -5.07% |
| S3 | 50.26 | -6.06% |
SUN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 09, 2024 | Aug 09, 2024 | Aug 19, 2024 | $0.88 | 1.64% |
| 2 | May 03, 2024 | May 10, 2024 | May 20, 2024 | $0.88 | 1.62% |
| 3 | Jan 25, 2024 | Feb 07, 2024 | Feb 20, 2024 | $0.84 | 1.33% |
| 4 | Jan 25, 2024 | Feb 06, 2024 | Feb 20, 2024 | $0.84 | 1.33% |
| 5 | Oct 20, 2023 | Oct 27, 2023 | Nov 20, 2023 | $0.84 | 1.57% |
FAQ
Click here for our free guide on how to buy Sunoco LP Stock.
