AGROTECH TEKNOLOJI Stock Forecast
A very strong day for AGROTECH TEKNOLOJI stock price on Friday
(Updated on May 31, 2024)
The AGROTECH TEKNOLOJI stock price gained 8.21% on the last trading day (Friday, 31st May 2024), rising from TRY 17.05 to TRY 18.45. During the last trading day the stock fluctuated 9.30% from a day low at TRY 17.09 to a day high of TRY 18.68. The price has fallen in 7 of the last 10 days and is down by -40.29% for this period. Volume fell on the last day by -57 million shares and in total, 122 million shares were bought and sold for approximately TRY 2.26 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at TRY 16.87 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -23.72% during the next 3 months and, with a 90% probability hold a price between TRY 12.87 and TRY 26.02 at the end of this 3-month period.
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AGROT.IS Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 8.21%. Further rise is indicated until a new top pivot has been found. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The AGROTECH TEKNOLOJI stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at TRY 19.26 and TRY 29.50. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for AGROTECH TEKNOLOJI stock
On the downside, the stock finds support just below today's level from accumulated volume at TRY 17.42 and TRY 17.05. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at TRY 17.05 may give a huge drop in the stock price.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved TRY 1.59 between high and low, or 9.30%. For the last week, the stock has had daily average volatility of 12.92%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AGROT.IS) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect AGROTECH TEKNOLOJI to open at TRY 18.07, and during the day (based on 14 day Average True Range), to move between TRY 16.28 and TRY 20.62, which gives a possible trading interval of +/-TRY 2.17 (+/-11.79%) up or down from last closing price. If AGROTECH TEKNOLOJI takes out the full calculated possible swing range there will be an estimated 23.58% 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 18.81 (1.95%) than the support at TRY 17.42 (5.58%), 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 AGROTECH TEKNOLOJI stock A Buy?
AGROTECH TEKNOLOJI holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.650 Sell Candidate Upgraded
Predicted Opening Price for AGROTECH TEKNOLOJI of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| TRY 18.07 ( 2.04%) | TRY 18.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AGROT.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.66 | 6.58 % | |
| R2 | 19.06 | 3.28 % | ||
| R1 | 18.68 | 1.25 % | ||
| Current price: | 18.45 | |||
| Support | S1 | 17.47 | -5.33 % | |
| S2 | 17.09 | -7.37 % | ||
| S3 | 16.48 | -10.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.90 | 13.28 % | |
| R2 | 19.00 | 2.98 % | ||
| R1 | 18.81 | 1.95 % | ||
| Current price | 18.45 | |||
| Support | S1 | 17.42 | -5.58% | |
| S2 | 17.05 | -7.59% | ||
| S3 | 0 | . |
FAQ
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