Sumitomo Mitsui Financial Group Inc Stock Forecast
Red day on Thursday for Sumitomo Mitsui Financial Group Inc
(Updated on Apr 25, 2024)
No changes to the price of Sumitomo Mitsui Financial Group Inc stock on the last trading day (Thursday, 25th Apr 2024). During the last trading day the stock fluctuated 1.11% from a day low at $11.26 to a day high of $11.38. The price has risen in 5 of the last 10 days but is still down by -3.23% for this period.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $11.24 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 12.50% during the next 3 months and, with a 90% probability hold a price between $12.65 and $14.74 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 a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $11.60. On a fall, the stock will find some support from the short-term average at $11.27. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, March 08, 2024, and so far it has fallen -7.70%. 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 fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days. 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 $0.125 between high and low, or 1.11%. For the last week the stock has had daily average volatility of 0.726%.
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 Friday 26th
For the upcoming trading day on Friday, 26th we expect Sumitomo Mitsui Financial Group Inc to open at $11.34, and during the day (based on 14 day Average True Range), to move between $11.21 and $11.55, which gives a possible trading interval of +/-$0.170 (+/-1.49%) 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 2.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.52 (1.23%) than the support at $11.17 (1.85%), 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: -4.193 Sell Candidate Unchanged
Predicted Opening Price for Sumitomo Mitsui Financial Group Inc of Friday, April 26, 2024
Fair opening price April 26, 2024 | Current price |
---|---|
$11.34 ( 0.366%) | $11.38 |
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 | 11.46 | 0.732 % | |
R2 | 11.42 | 0.313 % | ||
R1 | 11.39 | 0.0535 % | ||
Current price: | 11.38 | |||
Support | S1 | 11.29 | -0.786 % | |
S2 | 11.26 | -1.04 % | ||
S3 | 11.21 | -1.46 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 11.77 | 3.43 % | |
R2 | 11.76 | 3.34 % | ||
R1 | 11.52 | 1.23 % | ||
Current price | 11.38 | |||
Support | S1 | 11.17 | -1.85% | |
S2 | 10.62 | -6.68% | ||
S3 | 10.42 | -8.44% |
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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