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SMFG Stock Tickeron detected bearish Stock Pattern: Wedge Rising SMFG on July 25, 2024, netting in a 10.11% gain over 2 weeks

A.I.dvisor
at Tickeron.com
08/03/24
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+10.11% Gain from a Successful pattern Wedge Rising
SMFG - Sumitomo Mitsui Financial Group
Ticker: SMFG
Company: Sumitomo Mitsui Financial Group
Gain from shortening: +10.11%
Confirmed: 07/25/24
Succeeded: 08/02/24
Total length: 14 days
On July 19, 2024, A.I.dvisor detected a Wedge Rising Pattern (Bearish) for Sumitomo Mitsui Financial Group (SMFG, $13.94). 6 days later, on July 25, 2024, A.I.dvisor confirmed the Bearish pattern, setting a target price of the stock. On August 02, 2024, the stock hit the target price of $12.53 – resulting in a +1 gain for traders who shorted the stock on the pattern detection date.

SMFG in -0.53% downward trend, sliding for three consecutive days on August 28, 2024

Moving lower for three straight days is viewed as a bearish sign. Keep an eye on this stock for future declines. Considering data from situations where SMFG declined for three days, in of 249 cases, the price declined further within the following month. The odds of a continued downward trend are .

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General Information

a major bank

Industry MajorBanks

Profile
Fundamentals
Details
Industry
Major Banks
Address
1-2, Marunouchi 1-chome
Phone
+81 332828111
Employees
106000
Web
https://www.smfg.co.jp