Akçansa Çimento Sanayi ve Ticaret Stock Forecast
Akçansa Çimento Sanayi ve Ticaret stock price ended at TRY 152.70 on Thursday, after losing 0.456%.
(Updated on May 09, 2024)
The Akçansa Çimento Sanayi ve Ticaret stock price fell by -0.456% on the last day (Thursday, 9th May 2024) from TRY 153.40 to TRY 152.70. During the last trading day the stock fluctuated 1.58% from a day low at TRY 152.20 to a day high of TRY 154.60. The price has risen in 6 of the last 10 days and is up by 7.16% 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 -172 thousand shares and in total, 593 thousand shares were bought and sold for approximately TRY 90.48 million.
The stock lies the upper part of a wide and falling 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 154.05 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -16.24% during the next 3 months and, with a 90% probability hold a price between TRY 106.04 and TRY 129.04 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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AKCNS.IS Signals & Forecast
The Akçansa Çimento Sanayi ve Ticaret 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 153.49. On a fall, the stock will find some support from the long-term average at approximately TRY 146.25. 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. A buy signal was issued from a pivot bottom point on Thursday, April 04, 2024, and so far it has risen 11.54%. Further rise is indicated until a new top pivot has been found. 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. 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 Akçansa Çimento Sanayi ve Ticaret stock
Akçansa Çimento Sanayi ve Ticaret finds support from accumulated volume at TRY 152.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 2.40 between high and low, or 1.58%. For the last week, the stock has had daily average volatility of 2.41%.
Our recommended stop-loss: TRY 144.36 (-5.46%) (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 (AKCNS.IS) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Akçansa Çimento Sanayi ve Ticaret Anonim Sirketi to open at TRY 153.17, and during the day (based on 14 day Average True Range), to move between TRY 147.60 and TRY 157.80, which gives a possible trading interval of +/-TRY 5.10 (+/-3.34%) up or down from last closing price. If Akçansa Çimento Sanayi ve Ticaret Anonim Sirketi takes out the full calculated possible swing range there will be an estimated 6.68% 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 153.00 (0.20%) than the support at TRY 152.00 (0.46%), 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 Akçansa Çimento Sanayi ve Ticaret Anonim Sirketi stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.255 Buy Candidate Unchanged
Predicted Opening Price for Akçansa Çimento Sanayi ve Ticaret Anonim Sirketi of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| TRY 153.17 ( 0.306%) | TRY 152.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AKCNS.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 155.57 | 1.88 % | |
| R2 | 154.65 | 1.28 % | ||
| R1 | 154.08 | 0.91 % | ||
| Current price: | 152.70 | |||
| Support | S1 | 152.25 | -0.295 % | |
| S2 | 151.68 | -0.666 % | ||
| S3 | 150.77 | -1.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 164.00 | 7.40 % | |
| R2 | 155.60 | 1.90 % | ||
| R1 | 153.00 | 0.196 % | ||
| Current price | 152.70 | |||
| Support | S1 | 152.00 | -0.458% | |
| S2 | 151.10 | -1.05% | ||
| S3 | 145.50 | -4.72% |
FAQ
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