Akfen Gayrimenkul Yatirim Ortakligi A.S. Stock Forecast
Akfen Gayrimenkul Yatirim Ortakligi A.S. stock price ended at TRY 2.52 on Monday, after gaining 4.13%.
(Updated on May 20, 2024)
The Akfen Gayrimenkul Yatirim Ortakligi A.S. stock price gained 4.13% on the last trading day (Monday, 20th May 2024), rising from TRY 2.42 to TRY 2.52. 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 6.64% from a day low at TRY 2.41 to a day high of TRY 2.57. The price has risen in 6 of the last 10 days and is up by 10.04% 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, 44 million more shares were traded than the day before. In total, 144 million shares were bought and sold for approximately TRY 364.00 million.
The stock lies the upper part of a very 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 2.65 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 -9.00% during the next 3 months and, with a 90% probability hold a price between TRY 1.72 and TRY 2.41 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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AKFGY.IS Signals & Forecast
Mostly positive signals in the chart today. The Akfen Gayrimenkul Yatirim Ortakligi 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 2.36 and TRY 2.26. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 26, 2024, and so far it has risen 23.53%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Akfen Gayrimenkul Yatirim Ortakligi A.S. stock
Akfen Gayrimenkul Yatirim Ortakligi A.S. finds support from accumulated volume at TRY 2.46 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 0.160 between high and low, or 6.64%. For the last week, the stock has had daily average volatility of 4.32%.
Our recommended stop-loss: TRY 2.43 (-3.62%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 44 days ago.)
Trading Expectations (AKFGY.IS) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Akfen Gayrimenkul Yatirim Ortakligi A.S. to open at TRY 2.50, and during the day (based on 14 day Average True Range), to move between TRY 2.43 and TRY 2.61, which gives a possible trading interval of +/-TRY 0.0936 (+/-3.71%) up or down from last closing price. If Akfen Gayrimenkul Yatirim Ortakligi A.S. takes out the full calculated possible swing range there will be an estimated 7.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at TRY 2.46 (2.38%) than the resistance at TRY 2.59 (2.78%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Akfen Gayrimenkul Yatirim Ortakligi A.S. 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: 2.557 Buy Candidate Unchanged
Predicted Opening Price for Akfen Gayrimenkul Yatirim Ortakligi A.S. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| TRY 2.50 ( 0.794%) | TRY 2.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AKFGY.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.66 | 5.56 % | |
| R2 | 2.60 | 3.13 % | ||
| R1 | 2.56 | 1.63 % | ||
| Current price: | 2.52 | |||
| Support | S1 | 2.44 | -3.22 % | |
| S2 | 2.40 | -4.72 % | ||
| S3 | 2.34 | -7.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.85 | 13.10 % | |
| R2 | 2.64 | 4.76 % | ||
| R1 | 2.59 | 2.78 % | ||
| Current price | 2.52 | |||
| Support | S1 | 2.46 | -2.38% | |
| S2 | 2.45 | -2.78% | ||
| S3 | 2.23 | -11.51% |
FAQ
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