Afyon Çimento Sanayi Türk Anonim Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Afyon Çimento Sanayi Türk Anonim stock price ended at TRY 14.74 on Tuesday, after losing 0.81%.
(Updated on Apr 30, 2024)
The Afyon Çimento Sanayi Türk Anonim stock price fell by -0.81% on the last day (Tuesday, 30th Apr 2024) from TRY 14.86 to TRY 14.74. During the last trading day the stock fluctuated 3.28% from a day low at TRY 14.65 to a day high of TRY 15.13. The price has fallen in 5 of the last 10 days but is still up by 0.48% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -4 million shares and in total, 9 million shares were bought and sold for approximately TRY 131.32 million.
The stock lies in the upper part of a wide and strong 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 15.15 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 10.15% during the next 3 months and, with a 90% probability hold a price between TRY 13.94 and TRY 16.68 at the end of this 3-month period.
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AFYON.IS Signals & Forecast
The Afyon Çimento Sanayi Türk Anonim stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately TRY 14.82. On a fall, the stock will find some support from the long-term average at approximately TRY 13.32. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Friday, April 26, 2024, and so far it has fallen -2.38%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Afyon Çimento Sanayi Türk Anonim stock
Afyon Çimento Sanayi Türk Anonim finds support from accumulated volume at TRY 14.67 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 0.480 between high and low, or 3.28%. For the last week, the stock has had daily average volatility of 3.66%.
Our recommended stop-loss: TRY 14.09 (-4.42%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (AFYON.IS) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Afyon Çimento Sanayi Türk Anonim Sirketi to open at TRY 14.84, and during the day (based on 14 day Average True Range), to move between TRY 14.04 and TRY 15.44, which gives a possible trading interval of +/-TRY 0.697 (+/-4.73%) 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 9.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at TRY 14.67 (0.47%) than the resistance at TRY 14.82 (0.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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: 1.562 Buy Candidate Unchanged
Predicted Opening Price for Afyon Çimento Sanayi Türk Anonim Sirketi of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| TRY 14.84 ( 0.678%) | TRY 14.74 |
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 | 15.32 | 3.93 % | |
| R2 | 15.14 | 2.69 % | ||
| R1 | 15.02 | 1.92 % | ||
| Current price: | 14.74 | |||
| Support | S1 | 14.66 | -0.566 % | |
| S2 | 14.54 | -1.33 % | ||
| S3 | 14.36 | -2.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.10 | 2.44 % | |
| R2 | 14.95 | 1.42 % | ||
| R1 | 14.82 | 0.543 % | ||
| Current price | 14.74 | |||
| Support | S1 | 14.67 | -0.475% | |
| S2 | 13.80 | -6.38% | ||
| S3 | 13.78 | -6.51% |
FAQ
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