SUN - Sunoco LP Mon 27'th Feb 2017
Stock analysis for Mon 27'th Feb 2017 (Updated daily)
Hold candidate since 2017-02-27
Sunoco LP Stock Analysis
Sunoco LP fell by -3.60% in the last day, from USD 27.51 to USD 26.52. , and has now fallen 5 day in a row The price has fallen in 7 of the last 10 days and is down by -7.66% for this period. Volume increased in the last day by 0.81 million shares, but on falling prices. This is may be an early warning and risk is increased slightly for the next couple of days. In total, 1.88 million shares bought and sold for approximately USD 49.91 million.
Sunoco LP lies in the lower part of a wide and strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at USD 26.37 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 22.5% during the next 3 months and, with 90% probability hold a price between USD 32.30 and USD 38.28 at the end of this period.
A buy signal was issued from a pivot bottom point on Monday February 13, 2017, which indicates further gains until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Sunoco LP holds sales signals from both short- and long-term moving averages. In addition, there is a general sales signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up there will be some resistance from the lines at USD 27.76 and USD 27.92. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Relative Strength Index (RSI)
The stock currently holds a RSI14 at 21 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at USD 24.10 and USD 23.75. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 27.56, USD 26.98 and USD 29.58.
There is 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 LP finds support just below today's level at 24.10. If this is broken, then the next support from accumulated volume will be at 23.75 and 22.14. The stock is about to test the resistance from accumulated volume at USD 27.56 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 USD 1.01 (3.84%) between high and low. For the last week, the stock has had a daily average volatility of 4.62%.
Sunoco LP is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stoploss: USD 25.78 (-2.79%) ( criteria: risk and closeness to support from trendline.)
Sunoco LP holds several negative signals and isolated this should give a sell recommendiation, but due to general chance for a turnaround situation we recommend a hold or accumulate position awaiting further development.