SSUMY Stock Sumitomo (SSUMY, $27.83) RSI Indicator left the overbought zone on May 02, 2024
SSUMY's Indicator enters downward trend
The Aroon Indicator for SSUMY entered a downward trend on November 01, 2024. Tickeron's A.I.dvisor identified a pattern where the AroonDown red line was above 70 while the AroonUp green line was below 30 for three straight days. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options. A.I.dvisor looked at 138 similar instances where the Aroon Indicator formed such a pattern. In of the 138 cases the stock moved lower. This puts the odds of a downward move at .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on November 12, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on SSUMY as a result. In of 100 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
SSUMY moved below its 50-day moving average on October 09, 2024 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for SSUMY crossed bearishly below the 50-day moving average on October 16, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 13 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
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 .
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.
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 .
The Moving Average Convergence Divergence (MACD) for SSUMY just turned positive on November 06, 2024. Looking at past instances where SSUMY's MACD turned positive, the stock continued to rise in of 49 cases over the following month. 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 303 cases, the price rose further within the following month. The odds of a continued upward trend are .
