Akis Gayrimenkul Yatirim Ortakligi A.S. Stock Forecast
Akis Gayrimenkul Yatirim Ortakligi A.S. stock price up 4.32% on Friday
(Updated on May 03, 2024)
The Akis Gayrimenkul Yatirim Ortakligi A.S. stock price gained 4.32% on the last trading day (Friday, 3rd May 2024), rising from TRY 18.73 to TRY 19.54. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 6.78% from a day low at TRY 18.30 to a day high of TRY 19.54. The price has risen in 8 of the last 10 days and is up by 23.83% 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, 7 million more shares were traded than the day before. In total, 11 million shares were bought and sold for approximately TRY 222.28 million.
The stock has broken the wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. TRY 18.10 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach TRY 20.91 sometime during the next 3 months.
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AKSGY.IS Signals & Forecast
The Akis 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 17.64 and TRY 16.60. 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 28.22%. 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 Akis Gayrimenkul Yatirim Ortakligi A.S. stock
On the downside, the stock finds support just below today's level from accumulated volume at TRY 17.68 and TRY 16.86. 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, Akis Gayrimenkul Yatirim Ortakligi A.S. finds support just below today's level at TRY 17.68. If this is broken, then the next support from accumulated volume will be at TRY 16.86 and TRY 16.44.
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 1.24 between high and low, or 6.78%. For the last week, the stock has had daily average volatility of 7.05%.
Since the Akis Gayrimenkul Yatirim Ortakligi A.S. has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: TRY 18.87 (-3.44%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (AKSGY.IS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Akis Gayrimenkul Yatirim Ortakligi A.S. to open at TRY 19.13, and during the day (based on 14 day Average True Range), to move between TRY 18.70 and TRY 20.38, which gives a possible trading interval of +/-TRY 0.84 (+/-4.31%) up or down from last closing price. If Akis Gayrimenkul Yatirim Ortakligi A.S. takes out the full calculated possible swing range there will be an estimated 8.61% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ TRY 17.68, some TRY 1.86 (9.52%) from the current price of TRY 19.54, our system finds the risk reward attractive.
Is Akis Gayrimenkul Yatirim Ortakligi A.S. stock A Buy?
Akis Gayrimenkul Yatirim Ortakligi A.S. 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.
Current score: 0.000 Hold/Accumulate Unchanged
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 Akis Gayrimenkul Yatirim Ortakligi A.S. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| TRY 19.13 ( 2.12%) | TRY 19.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AKSGY.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.37 | 4.23 % | |
| R2 | 19.89 | 1.81 % | ||
| R1 | 19.60 | 0.309 % | ||
| Current price: | 19.54 | |||
| Support | S1 | 18.65 | -4.54 % | |
| S2 | 18.36 | -6.04 % | ||
| S3 | 17.89 | -8.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 19.54 | |||
| Support | S1 | 17.68 | -9.52% | |
| S2 | 16.86 | -13.72% | ||
| S3 | 16.44 | -15.86% |
FAQ
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