Akbank T.A.S. Stock Forecast
Weaker technical forecast for Akbank T.A.S. as stock downgraded to Hold/Accumulate.
(Updated on May 21, 2024)
The Akbank T.A.S. stock price gained 4.42% on the last trading day (Tuesday, 21st May 2024), rising from TRY 64.50 to TRY 67.35. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 9.78% from a day low at TRY 64.45 to a day high of TRY 70.75. The price has been going up and down for this period, and there has been a 9.33% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 158 million more shares were traded than the day before. In total, 237 million shares were bought and sold for approximately TRY 15.98 billion.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 60.14% during the next 3 months and, with a 90% probability hold a price between TRY 94.15 and TRY 114.98 at the end of this 3-month period.
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AKBNK.IS Signals & Forecast
The Akbank T.A.S. 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 60.66 and TRY 56.98. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, May 13, 2024, and so far it has risen 20.27%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
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 62.90 and TRY 58.30. 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 62.90. If this is broken, then the next support from accumulated volume will be at TRY 58.30 and TRY 57.50.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved TRY 6.30 between high and low, or 9.78%. For the last week, the stock has had daily average volatility of 6.03%.
Our recommended stop-loss: TRY 63.55 (-5.64%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (AKBNK.IS) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Akbank T.A.S. to open at TRY 67.52, and during the day (based on 14 day Average True Range), to move between TRY 64.57 and TRY 70.13, which gives a possible trading interval of +/-TRY 2.78 (+/-4.13%) 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 8.26% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ TRY 62.90, some TRY 4.45 (6.61%) from the current price of TRY 67.35, our system finds the risk reward attractive.
Is Akbank T.A.S. stock A Buy?
Akbank T.A.S. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Akbank T.A.S. of Wednesday, May 22, 2024
Fair opening price May 22, 2024 | Current price |
---|---|
TRY 67.52 ( 0.247%) | TRY 67.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AKBNK.IS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 73.82 | 9.60 % | |
R2 | 71.41 | 6.03 % | ||
R1 | 69.92 | 3.82 % | ||
Current price: | 67.35 | |||
Support | S1 | 65.11 | -3.33 % | |
S2 | 63.62 | -5.53 % | ||
S3 | 61.22 | -9.11 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 67.35 | |||
Support | S1 | 62.90 | -6.61% | |
S2 | 58.30 | -13.44% | ||
S3 | 57.50 | -14.63% |
AKBNK Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 26, 2024 | Mar 26, 2024 | Mar 28, 2024 | TRY 1.92 | 4.10% |
2 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | TRY 1.73 | 10.36% |
3 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | TRY 0.233 | 3.19% |
4 | Mar 26, 2021 | Mar 26, 2021 | Mar 26, 2021 | TRY 0.120 | 2.55% |
5 | Mar 28, 2018 | Mar 28, 2018 | Mar 28, 2018 | TRY 0.343 | 4.26% |
FAQ
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