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Takip Edin: @UscMarketsSSUMY Stock Forecast & Sumitomo Corporation Chart Analysis
This article provides a detailed analysis of SSUMY-Sumitomo Corporation stock including a forecast for SSUMY shares. It features Sumitomo Corporation technical analysis, support and resistance levels, financial report evaluations, buy and sell signals based on simple moving averages and MACD, and artificial intelligence-assisted target price predictions
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SSUMY Historical Data Review
SSUMY Current Price Performance Analysis
The Sumitomo Corporation - SSUMY stock traded on the American stock market, on 06-05-2024, closed at 25.82$ with a %-0.54 decreased compared to the previous day.
In the last month, the price of SSUMY changed by %-8.76 decreased in value, from 28.3 dollars on 05-06-2024 to 25.82 dollars, decreased.
Last year, the price of SSUMY was 20.49 dollars on 06-06-2023, and changed by %26.01 increased in value, to 25.82 dollars increased within a year.
The price of Sumitomo Corporation stock is riding high above the 50-day and 100-day moving averages. This means it's on a positive run for now, great news for those who got in early. But let's not take our eyes off the ball; no stock climbs forever.
SSUMY with AI Stock Forecast & Price Target
On the SSUMY chart Sumitomo Corporation price was recorded as 25.82 Dollars on 06/05/2024.
The artificial intelligence's forecast on SSUMY stock is as follows.
The artificial intelligence's prediction error margin for SSUMY stock is moderately high.
There are two types of risk factors in the artificial intelligence's targets: timing and target prices.
For example, the target price for one month later may be realized three months later. But there is no guarantee of this.
The average predicted price for Sumitomo Corporation stock over the next 4 months is: 25.8 Dollars.
The commentary on SSUMY stock Target Price: Highest: 26.976 Dollars is predicted.
The commentary on SSUMY stock Target Price: Lowest: 24.607 Dollars is predicted.
Resistance Price where Sumitomo Corporation stock will Rise and Fall:
| Date | Price Prediction |
|---|---|
| 06-25-2024 | 26.976 |
| 10-03-2024 | 25.055 |
| 12-27-2024 | 26.625 |
| 02-10-2025 | 26.494 |
Support Price where Sumitomo Corporation stock will Fall and Rise:
| Date | Price Prediction |
|---|---|
| 09-03-2024 | 24.607 |
| 10-23-2024 | 24.819 |
| 01-21-2025 | 26.452 |
| 03-27-2025 | 24.976 |
The commentary on SSUMY stock: Fluctuations in the target price can be expected in the coming days.
The target price for Sumitomo Corporation stock by the end of 2024 is predicted to be 26.625 Dollars.
The price prediction graph prepared with the help of artificial intelligence, the commentary on SSUMY stock, and the 2024 target price predictions for Sumitomo Corporation are detailed above.
The technical analysis and charts for the commentary on SSUMY stock are below.
SSUMY Support & Resistance and Trend Analysis
SSUMY stock you have reviewed the technical analysis support resistance charts regarding.
SSUMY : Targeting Support and Resistance Price Levels
According to the algorithmic analysis results related to the SSUMY review, the Sumitomo Corporation support and resistance prices are as follows.
Support and resistance levels on the chart are not absolute. They may vary depending on market conditions and macroeconomic indicators.
Sumitomo Corporation Support and Resistance Prices:
| SSUMY Support Level Price | SSUMY Resistance Level Price |
|---|---|
| 20.38 | 21.69 |
| 20.64 | 21.71 |
| 20.79 | 21.91 |
| 21.19 | 22.30 |
| 22.06 | 23.14 |
| 22.38 | 23.23 |
| 22.46 | 24.50 |
| 23.01 | 24.99 |
| 23.15 | 25.42 |
| 24.03 | 26.89 |
| 25.46 | 28.90 |
SSUMY Technical Analysis: SMA, RSI, MACD
Upon reviewing the SSUMY chart, buy and sell signals have been generated in the Sumitomo Corporation technical analysis with technical indicators. There are over 100 technical indicators in the market. Each technical indicator can produce different signals.
However, please remember that technical analysis is only a tool and exact results cannot be guaranteed.
On The technical analysis chart and stock comments for SSUMY stock are as follows:- SSUMY technical analysis indicates that the 14-period RSI has most recently generated a 'Buy' signal.
- The technical analysis for Sumitomo Corporation gave a 'Buy' signal when the RSI was at 28.929, with the current RSI value at 36.829.
- The technical analysis for Sumitomo Corporation indicates that the MACD indicator (with parameters 9, 12, 26) has most recently generated a 'Sell' signal.
Basic Technical Analysis Tips for Financial Markets
- Moving averages may not yield reliable results in stagnant, sideways markets.
- According to MACD technical analysis, the most optimal buying opportunity is a 'Buy' signal given when the MACD is below the 0 level.
- An RSI crossing below 70 is used as a sell signal, and a crossing above 30 is used as a buy signal.
- During a strong upward trend, the RSI can rise above 70 and stay there.
- No indicator is perfect. Having indicators corroborate each other can increase the chances of success.
- Instead of fully relying on these indicators for your investment decisions, it is recommended to conduct a comprehensive analysis and consult a professional financial advisor.
You have read the comments, technical analyses, target prices, and financial reports for Sumitomo Corporation stock: Click here to read more predictions on CITIC Limited stock.
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