Akbank T.A.S. (ADR) Stock Forecast
Green day on Thursday for Akbank T.A.S. (ADR)
(Updated on Apr 18, 2024)
The Akbank T.A.S. (ADR) stock price gained 1.91% on the last trading day (Thursday, 18th Apr 2024), rising from $3.40 to $3.47. During the last trading day the stock fluctuated 5.03% from a day low at $3.38 to a day high of $3.55. The price has risen in 7 of the last 10 days and is up by 6.94% 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, 435 thousand more shares were traded than the day before. In total, 703 thousand shares were bought and sold for approximately $2.44 million.
The stock lies in the upper part of a very 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 $3.55 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 24.25% during the next 3 months and, with a 90% probability hold a price between $3.45 and $4.42 at the end of this 3-month period.
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AKBTY Signals & Forecast
The Akbank T.A.S. (ADR) 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 $3.44 and $2.94. 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 Friday, April 12, 2024, and so far it has fallen -1.28%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Akbank T.A.S. (ADR) stock
Akbank T.A.S. (ADR) finds support from accumulated volume at $3.40 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 $0.170 between high and low, or 5.03%. For the last week, the stock has had daily average volatility of 4.22%.
Our recommended stop-loss: $3.33 (-3.91%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (AKBTY) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Akbank T.A.S. (ADR) to open at $3.47, and during the day (based on 14 day Average True Range), to move between $3.32 and $3.61, which gives a possible trading interval of +/-$0.140 (+/-4.05%) up or down from last closing price. If Akbank T.A.S. (ADR) takes out the full calculated possible swing range there will be an estimated 8.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.49 (0.58%) than the support at $3.40 (1.88%), 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. (ADR) 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 Akbank T.A.S. (ADR) stock to perform well in the short-term.
Current score: 3.374 Buy Candidate Unchanged
Predicted Opening Price for Akbank T.A.S. (ADR) of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $3.47 ( 0%) | $3.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AKBTY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.64 | 4.91 % | |
| R2 | 3.57 | 3.03 % | ||
| R1 | 3.53 | 1.87 % | ||
| Current price: | 3.47 | |||
| Support | S1 | 3.40 | -1.87 % | |
| S2 | 3.36 | -3.03 % | ||
| S3 | 3.30 | -4.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.51 | 1.30 % | |
| R2 | 3.49 | 0.707 % | ||
| R1 | 3.49 | 0.577 % | ||
| Current price | 3.47 | |||
| Support | S1 | 3.40 | -1.88% | |
| S2 | 3.24 | -6.49% | ||
| S3 | 2.70 | -22.08% |
AKBTY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 12, 2024 | Mar 26, 2024 | Apr 04, 2024 | $0.0900 | 2.83% |
| 2 | Jun 28, 2023 | Mar 30, 2023 | Apr 10, 2023 | $0.183 | 10.28% |
| 3 | Mar 24, 2022 | Mar 30, 2022 | Apr 10, 2023 | $0.0340 | 1.91% |
| 4 | Mar 26, 2021 | Mar 26, 2021 | Mar 26, 2021 | $0.0330 | 2.68% |
| 5 | Mar 28, 2018 | Mar 28, 2018 | Mar 28, 2018 | $0.211 | 4.46% |
FAQ
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