Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Sunoco LP shares valued at $49,740 were purchased by Harkness Austin on May 29 ’24. At $49.74 per share, Harkness Austin acquired 1,000 shares. The insider’s holdings grew to 83,686 shares worth approximately $4.57 million following the completion of this transaction.
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Also, Fails Karl R purchased 3,000 shares, netting a total of over 150,540 in proceeds. Following the buying of shares at $50.18 each, the insider now holds 230,916 shares.
Before that, Hand Brian A had added 2,000 shares to its account. In a trade valued at $99,180, the EVP-Chief Sales Officer bought Sunoco LP shares for $49.59 each. Upon closing the transaction, the insider’s holdings increased to 2,000 shares, worth approximately $8.37 million.
As published in a research note from Citigroup on June 18, 2024, Sunoco LP [SUN] has been rated up from a Neutral to a Buy and the price target has been revised to $65. As of June 07, 2024, Stifel has increased its “Hold” rating to a “Buy” for SUN.
Analyzing SUN Stock Performance
During the last five days, there has been a surge of approximately 2.25%. Over the course of the year, Sunoco LP shares have dropped approximately -8.84%. Shares of the company reached a 52-week high of $64.89 on 03/06/24 and a 52-week low of $49.45 on 05/24/24. A 50-day SMA is recorded $52.82, while a 200-day SMA reached $55.19. Nevertheless, trading volume fell to 0.33 million shares from 0.28 million shares the previous day.
Support And Resistance Levels for Sunoco LP (SUN)
According to the 24-hour chart, there is a support level at 54.07, which, if violated, would cause prices to drop to 53.51. In the upper region, resistance lies at 55.18. The next price resistance is at 55.74. RSI (Relative Strength Index) is 61.90 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.28, which suggests the price will increase in the coming days. Percent R is at 13.75%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
