SU Price Prediction Next Week
Technical Analysis:
Based on recent price action and technical indicators for Suncor Energy (SU), here's the analysis for next trading week:
Price Trend: SU has shown strong momentum after beating Q4 2024 earnings estimates with EPS of $0.89 vs expected $0.82. The stock has added about 6.9% year-to-date, outperforming S&P 500's 2.7% gain.
Volume Analysis: Recent put volume has been heavy and directionally bearish with 3,251 puts trading (1.3x expected). The Put/Call ratio of 3.13 indicates significant bearish sentiment.
Support/Resistance Levels:
- Key resistance: $37.00
- Current support: $35.50
News Sentiment:
Positive Factors:
- Record upstream production of 875M BOE/d in Q4 2024 vs 828.1M BOE/d last year
- Strong Q4 performance with exceptional operational metrics
- Raymond James raised price target to C$58 from C$57
Bearish Signals:
- Heavy put options activity suggesting institutional hedging
- Slight decline in Q4 EPS to C$1.25 from C$1.26 year-over-year
Price Prediction for Next Week:
Based on technical indicators and news sentiment:
- Target Price: $36.25
- Direction: Slightly bearish short-term
Trading Recommendation: SELL
- Entry: Current market price
- Stop loss: $37.25
- Take profit: $35.50
The heavy put volume and declining EPS suggest potential downward pressure despite strong operational metrics. The risk/reward ratio favors a short position with tight stop loss.
SU Similar Chart Price Prediction
The price of SU is predicted to go up 10.53%, based on the high correlation periods with SPNS. The similarity of these two price pattern on the periods is 91.07%.
SU
SPNS
Up: 10.53%Similarity: 91.07%
