Akmerkez Gayrimenkul Yatirim Ortakligi Stock Forecast
Akmerkez Gayrimenkul Yatirim Ortakligi stock price up more than 10.00% on Friday
(Updated on Apr 26, 2024)
The Akmerkez Gayrimenkul Yatirim Ortakligi stock price gained 10.00% on the last trading day (Friday, 26th Apr 2024), rising from TRY 330.00 to TRY 363.00. It has now gained 5 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 9.92% from a day low at TRY 330.25 to a day high of TRY 363.00. The price has risen in 7 of the last 10 days and is up by 27.7% over the past 2 weeks. Volume fell on the last day by -49 thousand shares and in total, 219 thousand shares were bought and sold for approximately TRY 79.32 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 TRY 378.47 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 56.65% during the next 3 months and, with a 90% probability hold a price between TRY 445.47 and TRY 592.87 at the end of this 3-month period.
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AKMGY.IS Signals & Forecast
The Akmerkez Gayrimenkul Yatirim Ortakligi 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 309.18 and TRY 284.10. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 04, 2024, and so far it has risen 41.25%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Akmerkez Gayrimenkul Yatirim Ortakligi stock
On the downside, the stock finds support just below today's level from accumulated volume at TRY 326.00 and TRY 310.00. 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, Akmerkez Gayrimenkul Yatirim Ortakligi finds support just below today's level at TRY 326.00. If this is broken, then the next support from accumulated volume will be at TRY 310.00 and TRY 292.75.
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 32.75 between high and low, or 9.92%. For the last week, the stock has had daily average volatility of 8.51%.
Our recommended stop-loss: TRY 351.96 (-3.04%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (AKMGY.IS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Akmerkez Gayrimenkul Yatirim Ortakligi A.S. to open at TRY 352.08, and during the day (based on 14 day Average True Range), to move between TRY 338.08 and TRY 387.92, which gives a possible trading interval of +/-TRY 24.92 (+/-6.87%) up or down from last closing price. If Akmerkez Gayrimenkul Yatirim Ortakligi A.S. takes out the full calculated possible swing range there will be an estimated 13.73% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ TRY 326.00, some TRY 37.00 (10.19%) from the current price of TRY 363.00, our system finds the risk reward attractive.
Is Akmerkez Gayrimenkul Yatirim Ortakligi A.S. stock A Buy?
Akmerkez Gayrimenkul Yatirim Ortakligi 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 Akmerkez Gayrimenkul Yatirim Ortakligi A.S. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| TRY 352.08 ( 3.01%) | TRY 363.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AKMGY.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 384.83 | 6.01 % | |
| R2 | 372.32 | 2.57 % | ||
| R1 | 364.59 | 0.439 % | ||
| Current price: | 363.00 | |||
| Support | S1 | 339.57 | -6.45 % | |
| S2 | 331.84 | -8.58 % | ||
| S3 | 319.33 | -12.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 363.00 | |||
| Support | S1 | 326.00 | -10.19% | |
| S2 | 310.00 | -14.60% | ||
| S3 | 292.75 | -19.35% |
FAQ
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