Akmerkez Gayrimenkul Yatirim Ortakligi Stock Forecast

Akmerkez Gayrimenkul Yatirim Ortakligi stock downgraded to Hold/Accumulate
(Updated on May 07, 2024)

AKMGY.IS Signals & Forecast

The Akmerkez Gayrimenkul Yatirim Ortakligi 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 356.21. On a fall, the stock will find some support from the long-term average at approximately TRY 304.96. 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. 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. 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 Thursday, May 02, 2024, and so far it has fallen -10.78%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Akmerkez Gayrimenkul Yatirim Ortakligi stock

Akmerkez Gayrimenkul Yatirim Ortakligi finds support from accumulated volume at TRY 326.00 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 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 14.25 between high and low, or 4.29%. For the last week, the stock has had daily average volatility of 7.14%.

Our recommended stop-loss: TRY 321.30 (-5.36%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 3 days ago.)

Trading Expectations (AKMGY.IS) For The Upcoming Trading Day Of Wednesday 8th

For the upcoming trading day on Wednesday, 8th we expect Akmerkez Gayrimenkul Yatirim Ortakligi A.S. to open at TRY 339.42, and during the day (based on 14 day Average True Range), to move between TRY 314.35 and TRY 364.65, which gives a possible trading interval of +/-TRY 25.15 (+/-7.41%) 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 14.81% 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 352.00 (3.68%) than the support at TRY 326.00 (3.98%), 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 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 Buy to a Hold/Accumulate candidate.

Current score: 0.662 Hold/Accumulate Downgraded

Predicted Opening Price for Akmerkez Gayrimenkul Yatirim Ortakligi A.S. of Wednesday, May 8, 2024

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