Akenerji Elektrik Üretim A.S. Stock Forecast

Is Akenerji Elektrik Üretim A.S. stock still a buy after falling -6.15% on Thursday?
(Updated on May 09, 2024)

AKENR.IS Signals & Forecast

The Akenerji Elektrik Üretim 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 18.97. On a fall, the stock will find some support from the long-term average at approximately TRY 16.70. 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. 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 19, 2024, and so far it has fallen -33.84%. 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 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 Akenerji Elektrik Üretim A.S. stock

On the downside, the stock finds support just below today's level from accumulated volume at TRY 16.50 and TRY 16.35. 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, Akenerji Elektrik Üretim A.S. finds support just below today's level at TRY 16.50. If this is broken, then the next support from accumulated volume will be at TRY 16.35 and TRY 15.00.

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 1.23 between high and low, or 6.74%. For the last week, the stock has had daily average volatility of 9.78%.

Our recommended stop-loss: TRY 17.15 (-6.26%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 12 days ago.)

Trading Expectations (AKENR.IS) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect Akenerji Elektrik Üretim A.S. to open at TRY 18.68, and during the day (based on 14 day Average True Range), to move between TRY 16.27 and TRY 20.33, which gives a possible trading interval of +/-TRY 2.03 (+/-11.11%) up or down from last closing price. If Akenerji Elektrik Üretim A.S. takes out the full calculated possible swing range there will be an estimated 22.22% 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 19.40 (6.01%) than the support at TRY 16.50 (9.84%), 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 Akenerji Elektrik Üretim A.S. 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 Akenerji Elektrik Üretim A.S. stock to perform well in the short-term.

Current score: 2.366 Buy Candidate Unchanged

Predicted Opening Price for Akenerji Elektrik Üretim A.S. of Friday, May 10, 2024

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