Afyon Çimento Sanayi Türk Anonim Stock Forecast
Green day on Thursday for Afyon Çimento Sanayi Türk Anonim
(Updated on Apr 18, 2024)
The Afyon Çimento Sanayi Türk Anonim stock price gained 1.83% on the last trading day (Thursday, 18th Apr 2024), rising from TRY 14.23 to TRY 14.49. During the last trading day the stock fluctuated 3.51% from a day low at TRY 14.23 to a day high of TRY 14.73. The price has risen in 7 of the last 10 days and is up by 12.94% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 21 million shares were bought and sold for approximately TRY 301.86 million.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at TRY 14.72 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 6.63% during the next 3 months and, with a 90% probability hold a price between TRY 12.91 and TRY 15.69 at the end of this 3-month period.
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AFYON.IS Signals & Forecast
The Afyon Çimento Sanayi Türk Anonim 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 13.83 and TRY 12.95. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -1.23%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Afyon Çimento Sanayi Türk Anonim stock
Afyon Çimento Sanayi Türk Anonim finds support from accumulated volume at TRY 13.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 0.500 between high and low, or 3.51%. For the last week, the stock has had daily average volatility of 7.11%.
Our recommended stop-loss: TRY 13.85 (-4.42%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (AFYON.IS) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Afyon Çimento Sanayi Türk Anonim Sirketi to open at TRY 14.48, and during the day (based on 14 day Average True Range), to move between TRY 13.71 and TRY 15.27, which gives a possible trading interval of +/-TRY 0.782 (+/-5.40%) up or down from last closing price. If Afyon Çimento Sanayi Türk Anonim Sirketi takes out the full calculated possible swing range there will be an estimated 10.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at TRY 14.67 (1.24%) than the support at TRY 13.80 (4.76%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Afyon Çimento Sanayi Türk Anonim Sirketi stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Afyon Çimento Sanayi Türk Anonim stock to perform well in the short-term.
Current score: 1.702 Buy Candidate Unchanged
Predicted Opening Price for Afyon Çimento Sanayi Türk Anonim Sirketi of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| TRY 14.48 ( 0.0460%) | TRY 14.49 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AFYON.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.98 | 3.40 % | |
| R2 | 14.79 | 2.09 % | ||
| R1 | 14.67 | 1.27 % | ||
| Current price: | 14.49 | |||
| Support | S1 | 14.29 | -1.36 % | |
| S2 | 14.17 | -2.18 % | ||
| S3 | 13.98 | -3.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 14.67 | 1.24 % | ||
| Current price | 14.49 | |||
| Support | S1 | 13.80 | -4.76% | |
| S2 | 13.78 | -4.90% | ||
| S3 | 12.90 | -10.97% |
FAQ
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