Thu 21'st Sep 2017
Sunoco LP Stock Analysis
Technical stock analysis for Thu 21'st Sep 2017
Hold candidate since 2017-09-20 Loss -1.22%
Sunoco LP lies in the lower part of a weak rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $30.69 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 3.29% during the next 3 months and, with 90% probability hold a price between $31.70 and $34.09 at the end of this period.
There are few to none technical positive signals at the moment. Sunoco LP holds sales signals from both short- and long-term moving averages. On corrections up there will be some resistance from the lines at $31.42 and $31.20. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Thursday September 07, 2017, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
RSI14 is 42 and the stock is currently not being overbought or oversold
Support & Resistance
Sunoco LP finds support from accumulated volume at $30.55. On the upside the stock meets some resistance just above today's level from accumulated volume at $31.24, $31.75 and $32.05.
The stock is about to test the resistance from accumulated volume at $31.24 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.44 (1.43%) between high and low. For the last week, the stock has had a daily average volatility of 1.77%.
Our recommended stoploss: $29.25 (-4.95%) (This stock has low daily movements and this gives low risk. There is a sell signal from pivot top found 10 days ago.)
Sunoco LP holds several negative signals and this should give a sell recommendation, but due to the general chance for a turnaround situation we recommend to hold or accumulate whilst awaiting for further development. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Hold/Accumulate.
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