SU Price Prediction Next Week
Technical Analysis: Based on the latest data, SU closed at $38.95 on January 24, 2025, with a decline of 1.17% . The stock is currently showing mixed technical signals:
- RSI(14) reading of 56.13 indicates neutral momentum, not showing overbought or oversold conditions
- MACD at 0.59 suggests slightly bullish momentum
- Price is trading around its 20-day SMA of $37.84 and 60-day SMA of $38.28, indicating a consolidation phase
Fibonacci Analysis:
- Key resistance levels: R1: $40.33, R2: $40.79, R3: $41.55
- Key support levels: S1: $38.81, S2: $38.35, S3: $37.59
- Pivot point: $39.57
News Impact: Recent news indicates that Suncor has shown strong financial performance:
- Q3 2024 net income reached C$1.24 billion, up 9.2% quarter-over-quarter
- Generated C$1 billion in free cash flow
- 2025 production outlook projected at 433,000-456,000 barrels per day
Price Prediction for Next Week: Based on technical indicators and recent news:
- Bullish scenario (60% probability): Price likely to test R1 at $40.33
- Bearish scenario (40% probability): May find support at S1 $38.81
Trading Recommendation: BUY with entry at current price ($38.95)
- Target: $40.33 (R1 level)
- Stop loss: $38.35 (S2 level)
- Risk/Reward ratio: 1:2.3
The recommendation is based on:
- Strong financial performance
- Positive MACD
- Price consolidating above key moving averages
- Clear technical support levels for risk management
SU Similar Chart Price Prediction
The price of SU is predicted to go up 2.42%, based on the high correlation periods with PUK. The similarity of these two price pattern on the periods is 98.18%.
SU
PUK
Up: 2.42%Similarity: 98.18%