Anadolu Efes Biracilik ve Malt Sanayii Stock Forecast

Anadolu Efes Biracilik ve Malt Sanayii stock upgraded from Buy Candidate to Strong Buy Candidate after Thursday trading session.
(Updated on May 09, 2024)

AEFES.IS Signals & Forecast

Mostly positive signals in the chart today. The Anadolu Efes Biracilik ve Malt Sanayii stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at TRY 191.99 and TRY 165.91. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 45.45%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for Anadolu Efes Biracilik ve Malt Sanayii stock

On the downside, the stock finds support just below today's level from accumulated volume at TRY 158.70 and TRY 155.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Anadolu Efes Biracilik ve Malt Sanayii finds support just below today's level at TRY 158.70. If this is broken, then the next support from accumulated volume will be at TRY 155.00 and TRY 152.90.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved TRY 6.90 between high and low, or 3.57%. For the last week, the stock has had daily average volatility of 3.24%.

The Anadolu Efes Biracilik ve Malt Sanayii stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: TRY 194.52 (-2.74%) (This stock has high daily movements and this gives high risk. The RSI14 is 88 and this increases the risk substantially. There is a buy signal from a pivot bottom found 33 days ago.)

Trading Expectations (AEFES.IS) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect Anadolu Efes Biracilik ve Malt Sanayii Anonim Sirketi to open at TRY 197.77, and during the day (based on 14 day Average True Range), to move between TRY 193.86 and TRY 206.14, which gives a possible trading interval of +/-TRY 6.14 (+/-3.07%) up or down from last closing price. If Anadolu Efes Biracilik ve Malt Sanayii Anonim Sirketi takes out the full calculated possible swing range there will be an estimated 6.14% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ TRY 158.70, some TRY 41.30 (20.65%) from the current price of TRY 200.00, our system finds the risk reward attractive.

Is Anadolu Efes Biracilik ve Malt Sanayii Anonim Sirketi stock A Buy?

Anadolu Efes Biracilik ve Malt Sanayii holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 5.531 Strong Buy Candidate Upgraded

Predicted Opening Price for Anadolu Efes Biracilik ve Malt Sanayii Anonim Sirketi of Friday, May 10, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.