SSUMY Stock Sumitomo (SSUMY, $27.83) RSI Indicator left the overbought zone on May 02, 2024
at Tickeron.com
SSUMY in downward trend: price expected to drop as it breaks its higher Bollinger Band on November 07, 2024
SSUMY broke above its upper Bollinger Band on November 07, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options. The A.I.dvisor looked at 46 similar instances where the stock broke above the upper band. In of the 46 cases the stock fell afterwards. This puts the odds of success at .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on November 19, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on SSUMY as a result. In of 101 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for SSUMY turned negative on November 20, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 49 similar instances when the indicator turned negative. In of the 49 cases the stock turned lower in the days that followed. This puts the odds of success at .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where SSUMY declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for SSUMY entered a downward trend on November 21, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Bullish Trend Analysis
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 51 cases where SSUMY's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where SSUMY advanced for three days, in of 302 cases, the price rose further within the following month. The odds of a continued upward trend are .
