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(SUMICHEM) Sumitomo Chem complete technical analysis [charts+indicators] | Buy/Sell Sumitomo Chem | (SUMICHEM) share price targets

Complete technical analysis of Sumitomo Chem (SUMICHEM) by charts plus indicators, forecast predictions and share price targets for Sumitomo Chem (SUMICHEM)

Showing technical analysis as on 2024-03-02 View latest technical analysis

10 day averaged volume of Sumitomo Chem is 232324

Date	Daily Closing Price	Open	High	Low	Volume
02 Sat Mar 2024	376.40	379.80	379.95	374.55	0.093 times
01 Fri Mar 2024	374.60	375.65	376.85	373.50	0.634 times
29 Thu Feb 2024	374.15	374.05	376.85	372.30	0.737 times
28 Wed Feb 2024	374.40	382.95	383.60	373.00	1.612 times
27 Tue Feb 2024	382.95	386.80	387.90	381.25	0.826 times
26 Mon Feb 2024	384.65	384.70	385.25	380.50	1.056 times
23 Fri Feb 2024	384.70	377.10	395.00	375.00	2.26 times
22 Thu Feb 2024	376.00	378.00	378.25	372.20	0.336 times
21 Wed Feb 2024	375.20	379.90	379.95	375.00	0.866 times
20 Tue Feb 2024	377.80	375.00	380.50	375.00	0.653 times

My analysis of stock is bearish for shortterm, but stock is semi over sold and there are some chances of seeing a recovery tomorrow. Use 374.5 as stoploss in an intra day buy trade for a target of 380.46. However, stock will show a bearish move below 374.5.

Share price targets for Sumitomo Chem (SUMICHEM)

Target Type	Value
Downside Target	370.00
Upside Target	391.35
Upside Target	393.00
Upside Target	395.00
Upside Target	405.70
Upside Target	408.50
Upside Target	414.25
Upside Target	417.50
Upside Target	421.85
Upside Target	430.60

Intraday share price targets for Sumitomo Chem (SUMICHEM)

Target Type	Value
Downside Intraday Target	369.83
Downside Intraday Target	363.27
Upside Intraday Target	385.43
Upside Intraday Target	394.47
Upside Intraday Target	378.87

Weekly technical analysis of Sumitomo Chem (SUMICHEM)

Date	Weekly Closing Price	Open	High	Low	Volume
02 Sat Mar 2024	376.40	384.70	387.90	372.30	0.965 times
23 Fri Feb 2024	384.70	378.15	395.00	372.20	1.082 times
16 Fri Feb 2024	378.15	381.90	384.95	370.00	0.866 times
09 Fri Feb 2024	382.95	400.85	405.70	380.80	0.515 times
02 Fri Feb 2024	400.05	395.00	417.50	393.00	3.588 times

Price has moved down this week, but volume has not increased substantially. This means that the move can be temporary and might not continue in coming weeks.

Monthly technical analysis of Sumitomo Chem (SUMICHEM)

Date	Monthly Closing Price	Open	High	Low	Volume
02 Sat Mar 2024	376.40	375.65	379.95	373.50	0.031 times
29 Thu Feb 2024	374.15	413.10	414.25	370.00	0.394 times
31 Wed Jan 2024	415.60	405.40	430.60	391.35	2.464 times
29 Fri Dec 2023	404.05	413.00	421.85	391.15	1.405 times

Scroll below to view daily charts

Price has moved up this month, but volume has not increased substantially. This means that the move can be temporary and might not continue in coming months.

Indicators analysis of Sumitomo Chem (SUMICHEM)

Price action analysis of Sumitomo Chem ( (SUMICHEM) ) based on a short term time period is definitely negative. This means that there is a strong downtrend in the stock for given time period. Sellers are extremely active on this stock.

Price action analysis of Sumitomo Chem ( (SUMICHEM) ) based on a short to mid term time period is positive, but trend is highly volatile. A longer time period analysis might give a better idea of the trend.

Price action analysis of Sumitomo Chem ( (SUMICHEM) ) based on a mid to longer term time period is definitely negative. This means that there is a strong downtrend in the stock for given time period. Sellers are extremely active on this stock.

ADX buy sell signal for Sumitomo Chem stock for short term is BUY. Signal strength is Weak and stock is gaining momentum.

MACD generated a BUY signal for Sumitomo Chem in short term but the buy signal is initial and weak.

MACD line is moving upwards which means that SELL signal is weakening, and buying is picking up momentum.

Sumitomo Chem Stock is trading near its recent LOWS in short term which reflects strong selling momentum. Bears are weakening, and bulls are picking up momentum!

Ichimoku cloud is of red color and prices are below the red cloud Prices appear to be moving up

CCI has generated a buy signal for Sumitomo Chem in short term but BUY signal is weak.

RSI is generating a BUY signal in short term but buying is losing momentum.

MRSI is in negative zone. This is the SELL zone

Although the stock is in the SELL zone, but selling might be slowing down

Stock of Sumitomo Chem is picking up selling momentum according to indicator.

Volume based indicators are showing selling momentum.

Volume Weighted Averaged Price (VWAP) for short term is 379.33 and Sumitomo Chem (SUMICHEM) stock is trading below this level. This means that stock is falling with high volumes. VWAP is rising upwards.

People seem to be coming out and selling the Sumitomo Chem (SUMICHEM) stock. Volume based technical analysis of Sumitomo Chem (SUMICHEM) stock is negative.

Sumitomo Chem Stock has given negative returns over a short term period. Returns for a longer term period have been negative.

Force Index is moving in a negative zone, which indicates selling momentum for short term... Selling momentum is getting weaker.