Sumitomo Mitsui Financial Group Technical Analysis (NYSE:SMFG)
Technical analysis relies on the belief that future price movements of a stock can be forecasted through the study of historical market data and technical charts. A SMFG stock chart pattern can give those who understand technical analysis an indication of which way SMFG stock is headed, but cannot predict with 100% certainty as to what can happen to the Sumitomo Mitsui Financial Group stock price.
You can view Simple Moving Average (SMA 20 day, 50 day & 100 day), Exponential Moving Average (EMA 20 day, 50 day & 100 day) charts, and Bollinger Bands for Sumitomo Mitsui Financial Group. Technical analysis uses an approach for Sumitomo Mitsui Financial Group stock analysis that does not care for the fair "value" of a company but uses price and volume data only.
Sumitomo Mitsui Financial Group Moving Average:
Moving averages show the average price of SMFG stock over a set time period and help traders see the overall trend by smoothening out the daily variation in price movement. The 20 day moving average of $7.53 is below the last closing price of $7.79 and the 50 day moving average of $7.59 is below the $7.79 price. The 10 and 20 day periods can predict short term moving average trends.
Sumitomo Mitsui Financial Group Bollinger Bands:
Bollinger bands comprise of a center line usually SMFG SMA, and two SMFG stock price bands above and below it. The stock is considered over brought when the price starts moving closer towards the upper band, and is considered oversold as stock price moves closer towards the lower band. Currently the stock price of $7.79 is in the upper range of Sumitomo Mitsui Financial Group bollinger bands.
Sumitomo Mitsui Financial Group Moving Average Convergence Divergence or MACD:
Two important concepts with respect to moving average convergence divergence or MACD are: crossovers and divergence. When the MACD rises above the signal line, it typically indicates a bullish trend and most likely the stock prices will go up. The Sumitomo Mitsui Financial Group MACD line is below the signal line.
Sumitomo Mitsui Financial Group Relative Strength Index:
The RSI is a valuable tool to determine overbought / oversold stocks and measures the recent performance of a stock in relation to its own stock price history. 64.58 is the RSI value of SMFG stock. .