Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Sumitomo Mitsui Financial Group Inc ADR shares valued at $551,773,323 were purchased by SUMITOMO MITSUI FINANCIAL GROU on Sep 19 ’24. At $59.67 per share, SUMITOMO MITSUI FINANCIAL GROU acquired 9,247,081 shares. The insider’s holdings grew to 9,247,081 shares worth approximately $132.14 million following the completion of this transaction.
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As published in a research note from Goldman on July 20, 2023, Sumitomo Mitsui Financial Group Inc ADR [SMFG] has been rated down from a Buy to a Neutral. As of June 23, 2022, BofA Securities has increased its “Neutral” rating to a “Buy” for SMFG. Earlier on April 11, 2022, BofA Securities downgraded its rating. Their new recommendation was “a Neutral” for SMFG stock which previously was a “a Buy”.
Analyzing SMFG Stock Performance
During the last five days, there has been a surge of approximately 3.03%. Over the course of the year, Sumitomo Mitsui Financial Group Inc ADR shares have jumped approximately 47.62%. Shares of the company reached a 52-week high of $14.53 on 07/31/24 and a 52-week low of $9.56 on 01/03/24. A 50-day SMA is recorded $12.90, while a 200-day SMA reached $12.42. Nevertheless, trading volume fell to 1.33 million shares from 0.98 million shares the previous day.
Support And Resistance Levels for Sumitomo Mitsui Financial Group Inc ADR (SMFG)
According to the 24-hour chart, there is a support level at 14.18, which, if violated, would cause prices to drop to 14.07. In the upper region, resistance lies at 14.44. The next price resistance is at 14.59. RSI (Relative Strength Index) is 72.03 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.67, which suggests the price will decrease in the coming days. Percent R is at 9.09%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
