Resistance

Billion

<ul class="list-ic vertical">
 <li><span>1</span> <a>SU stock price declined over 8% in a week and 5.95% in a month.&nbsp;</a></li>
 <li><span>2</span> <a>Suncor Energy Inc. has a market capitalization of $41.899 Billion.&nbsp;</a></li>
 <li><span>3</span> <a>Suncor Energy, Inc. stock added 13.69% in a quarter despite weekly and monthly declines.&nbsp;</a></li>
</ul>
<p>SU stock has been in the grip of bears for the past month, losing 8.67% of its trading price in a week and 5.95% in a month. Suncor Energy, Inc. stock added 13.69% in a quarter despite weekly and monthly declines.</p>
<h2 class="wp-block-heading" id="strong-suncor-energy-su-stock-price-analysis-strong"><strong>Suncor Energy (SU) Stock Price Analysis&nbsp;</strong></h2>
<p>In the 52-week time frame, SU stock price peaked at $37.23 while the lowest traded price was $27.59. Suncor Energy Inc. has a market capitalization of $41.899 Billion, and its shares’ average trading volume is 5.014 Million.</p>
<p>SU stock has an annual price target of $37.81; however, the target is 17.36% greater than its press time trading price.&nbsp;</p>
<p>At the time of writing, Suncor stock price was below 100 and 200-days EMAs and, at the same time, above 20 and 50-days EMAs.</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh4.googleusercontent.com/XFg2w1_HebffiLMGZQhESGzh_ymnAAN3B47AOVB13NlTrYLVjM5n-U1PHS2lYsiZ-eE2KaPEpJf6WlbwWom6_LHQVLeLmL82OpFsGjeHGhOR1dEYmy29uzrVST9dx26VEql2a-uQ7TSyq5kn-IrGO_o" alt="Suncor Energy Inc: SU Stock Lost 8.67%; Will the Decline Continue?">
  <figcaption class="wp-element-caption">
   Source: Suncor Energy Inc (SU) stock price chart from <a href="https://www.tradingview.com/x/xWC5htW3/" rel="noopener noreferrer nofollow">TradingView</a>
  </figcaption>
 </figure>
</div>
<p>The MACD and signal line seem to be approaching the zero line and might enter the oversold territory if bears maintain their dominance over bulls in the coming sessions.&nbsp;</p>
<p>Similarly, the histogram reflects a significant amount of bears accumulated below the zero line; a future indication of bearishness is possible. The bears initiated the most recent decline on September 29, 2023, when SU stock price fell over 2.39% significantly.&nbsp;&nbsp;</p>
<p>If bears’ dominance continues, then there are possibilities that SU stock price might decline further and face immediate support of $31.35. TradingView data shows that 1.3 Billion SU shares are free-floating, and the remaining 851.776k shares are closely held.&nbsp;</p>
<h3 class="wp-block-heading" id="strong-suncor-energy-inc-su-financial-updates-strong"><strong>Suncor Energy Inc (SU) Financial Updates&nbsp;</strong></h3>
<p><a href="https://www.thecoinrepublic.com/2023/09/29/smin-stock-price-stock-is-underperforming-reclaims-the-support/" rel="noopener noreferrer nofollow">Suncor Energy Inc.</a> met analysts’ estimations and reported 8.45% more revenue than estimated figures. The estimated revenue for Q2 2023 was $8.15 Billion.</p>
<p>The reported EPS of the company was 2.96% greater than the estimated EPS by the analysts. In 2022, Suncor Energy Inc. reported $43.03 Billion in revenue, from which its net income was $6.70 Billion and profit margin on overall revenue was 15.56%.&nbsp;</p>
<p>Suncor Energy, Inc. is an integrated energy company that engages in the development of petroleum resource basins. It operates through the following segments: Oil Sands, Exploration and Production, Refining and Marketing, and Corporate and Eliminations.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p>Support Level: $31.35 &amp; $30.40</p>
<p>Resistance Level: $32.98 &amp; $33.96</p>
<h4 class="wp-block-heading"><strong>Conclusion: </strong></h4>
<p>Suncor Energy Inc (SU) stock declined steadily last month, losing over 5.50%. At the time of writing, SU stock prices are below 100 and 200-day EMAs and at the same time below the 20 and 50-day EMAs. Market analysts believe a further decline in the SU stock trading price is expected in the coming days.&nbsp;&nbsp;&nbsp;</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author or any people named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

Suncor Energy Inc: SU Stock Lost 8.67%; Will the Decline Continue?

Table of Contents

Thecoinrepublic.com

Other articles published on Oct 8, 2023

XRP Poised to Surprise Traders Amid Volatile Crypto Market: Analysts

ED Stock (NYSE: ED) in Dilemma, Will ED Price Sustain 20-Day EMA?

Memes Coins Are Here For a Good Time, Not a Long Time: Trader

WEEKLY CRYPTO PRICE ANALYSIS: BTC, ETH, BNB, XRP, ADA, DOGE, AND SOL

Vitalik Buterin proposes two-tier model to address ‘centralization challenges’ in Ethereum staking

Bitcoin Whale Holding $137 Million in Crypto Assets Resurfaces

Join our free newsletter for daily crypto updates!