SUNOCO 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
Big movements in SUNOCO INC stock price on Friday moving 18.20% between high and low
(Updated on May 03, 2024)
No changes to the price of SUNOCO INC stock on the last trading day (Friday, 3rd May 2024). During the last trading day the stock fluctuated 18.20% from a day low at £0.423 to a day high of £0.500. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at £0.512 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -30.02% during the next 3 months and, with a 90% probability hold a price between £0.248 and £0.358 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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SUN.L Signals & Forecast
The SUNOCO INC stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at £0.500 and £0.499. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 25.00%. 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). The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely.
Support, Risk & Stop-loss for SUNOCO INC stock
On the downside, the stock finds support just below today's level from accumulated volume at £0.450 and £0.402. 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, SUNOCO INC finds support just below today's level at £0.450. If this is broken, then the next support from accumulated volume will be at £0.402 and £0.400.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved £0.0770 between high and low, or 18.20%. For the last week, the stock has had daily average volatility of 18.89%.
Our recommended stop-loss: £0.482 (-3.66%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (SUN.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect SUNOCO INC to open at £0.474, and during the day (based on 14 day Average True Range), to move between £0.426 and £0.574, which gives a possible trading interval of +/-£0.0739 (+/-14.79%) up or down from last closing price. If SUNOCO INC takes out the full calculated possible swing range there will be an estimated 29.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £0.450 (10.00%) than the resistance at £0.550 (10.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is SUNOCO INC stock A Buy?
SUNOCO INC holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.897 Hold/Accumulate Upgraded
Predicted Opening Price for SUNOCO INC of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| £0.474 ( 5.13%) | £0.500 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SUN.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.551 | 10.27 % | |
| R2 | 0.522 | 4.38 % | ||
| R1 | 0.504 | 0.749 % | ||
| Current price: | 0.500 | |||
| Support | S1 | 0.445 | -11.02 % | |
| S2 | 0.427 | -14.65 % | ||
| S3 | 0.397 | -20.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.613 | 22.50 % | |
| R2 | 0.570 | 14.00 % | ||
| R1 | 0.550 | 10.00 % | ||
| Current price | 0.500 | |||
| Support | S1 | 0.450 | -10.00% | |
| S2 | 0.402 | -19.60% | ||
| S3 | 0.400 | -20.00% |
FAQ
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