I also thought Suncorp's chart was ugly...... until I looked at the 15 year chart today.
Three significant points which highlight reason to be somewhat positive:
1. The share price has found support in the vicinity of a previous long standing high back in 2001. The 2001 high took over 3 years to surpass so it stood as a significant top for quite some time.
2. The near 13 year old uptrend line neatly coincides with the recent share price low (not perfectly but pretty close). Other financial company shares are still gravitating to their long term trend-lines so maybe SUN is ahead of the pack in terms of its correction.
3. Shorter term, the daily RSI is making higher lows and the MACD is looking positive....
In summary, I think SUN may be close to making a significant bottom here - next Thursday's half yr results may well be the turning point.
I also thought Suncorp's chart was ugly...... until I looked at...
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Last
$18.09 |
Change
0.090(0.50%) |
Mkt cap ! $23.01B | |||
| Open | High | Low | Value | Volume |
| $18.08 | $18.35 | $18.02 | $26.40M | 1.456M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 7503 | $18.07 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.09 | 7130 | 1 |
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| Last trade - 16.10pm 09/10/2024 (20 minute delay) ? |
| SUN (ASX) Chart |