Alarko Holding A.S. Stock Forecast

Alarko Holding A.S. stock upgraded to Hold/Accumulate.
(Updated on May 08, 2024)

ALARK.IS Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 4.12%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Alarko Holding A.S. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at TRY 126.35. On a fall, the stock will find some support from the short-term average at TRY 117.59. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Alarko Holding A.S. stock

Alarko Holding A.S. finds support from accumulated volume at TRY 117.60 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved TRY 2.90 between high and low, or 2.44%. For the last week, the stock has had daily average volatility of 2.48%.

Alarko Holding A.S. is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: TRY 112.22 (-5.61%) (This stock has high daily movements and this gives high risk. Low RSI14 is 24 which reduces the risk some. There is a buy signal from a pivot bottom found 9 days ago.)

Trading Expectations (ALARK.IS) For The Upcoming Trading Day Of Thursday 9th

For the upcoming trading day on Thursday, 9th we expect Alarko Holding A.S. to open at TRY 119.73, and during the day (based on 14 day Average True Range), to move between TRY 114.33 and TRY 123.47, which gives a possible trading interval of +/-TRY 4.57 (+/-3.85%) up or down from last closing price. If Alarko Holding A.S. takes out the full calculated possible swing range there will be an estimated 7.69% 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 119.20 (0.25%) than the support at TRY 117.60 (1.09%), 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 Alarko Holding A.S. stock A Buy?

Alarko Holding 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.401 Hold/Accumulate Upgraded

Predicted Opening Price for Alarko Holding A.S. of Thursday, May 9, 2024

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