Akbank T.A.S. Stock Forecast

Akbank T.A.S. stock price ended at TRY 59.45 on Tuesday, after losing 1.49%.
(Updated on Apr 30, 2024)

AKBNK.IS Signals & Forecast

A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -4.88%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Akbank T.A.S. 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 59.85. On a fall, the stock will find some support from the long-term average at approximately TRY 50.00. 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.

Support, Risk & Stop-loss for Akbank T.A.S. stock

On the downside, the stock finds support just below today's level from accumulated volume at TRY 46.78 and TRY 46.00. 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, Akbank T.A.S. finds support just below today's level at TRY 46.78. If this is broken, then the next support from accumulated volume will be at TRY 46.00 and TRY 45.04.

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 1.90 between high and low, or 3.20%. For the last week, the stock has had daily average volatility of 3.41%.

Our recommended stop-loss: TRY 57.02 (-4.09%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 6 days ago.)

Trading Expectations (AKBNK.IS) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect Akbank T.A.S. to open at TRY 60.08, and during the day (based on 14 day Average True Range), to move between TRY 56.98 and TRY 61.92, which gives a possible trading interval of +/-TRY 2.47 (+/-4.16%) up or down from last closing price. If Akbank T.A.S. takes out the full calculated possible swing range there will be an estimated 8.31% 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 59.85 (0.67%) than the support at TRY 46.78 (21.31%), 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 Akbank T.A.S. stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.

Current score: 1.173 Buy Candidate Unchanged

Predicted Opening Price for Akbank T.A.S. of Thursday, May 2, 2024

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