Is Summit Midstream Corp. technically bullish or bearish?
As of October 1, 2023, Summit Midstream Corp. shows a mildly bearish technical stance with mixed signals from various indicators, underperforming the S&P 500 year-to-date and over the past year, but outperforming over three and five years.
As of 1 October 2023, the technical stance for Summit Midstream Corp. is mildly bearish. The weekly MACD indicates a mildly bullish trend, but this is offset by a bearish monthly MACD and a bearish reading from the Bollinger Bands on the weekly timeframe. Moving averages are also showing a mildly bearish signal on the daily timeframe. The KST is mildly bullish weekly but mildly bearish monthly, while the Dow Theory indicates a mildly bearish stance on the weekly chart. Overall, the mixed signals suggest a lack of strong bullish momentum.In terms of performance, the stock has underperformed the S&P 500 over the year-to-date and one-year periods, with returns of -38.43% and -37.14% respectively, compared to the S&P 500's gains of 12.22% and 17.14%. However, it has shown stronger returns over the three and five-year periods, outperforming the benchmark.
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