Alarko Carrier Sanayi ve Ticaret A.S. Stock Forecast
Alarko Carrier Sanayi ve Ticaret A.S. stock price up 3.95% on Friday
(Updated on May 03, 2024)
The Alarko Carrier Sanayi ve Ticaret A.S. stock price gained 3.95% on the last trading day (Friday, 3rd May 2024), rising from TRY 1,416.00 to TRY 1,472.00. It has now gained 3 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 5.71% from a day low at TRY 1,400.00 to a day high of TRY 1,480.00. The price has been going up and down for this period, and there has been a -0.54% loss for the last 2 weeks. Volume fell on the last day by -39 thousand shares and in total, 119 thousand shares were bought and sold for approximately TRY 174.45 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 middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.37% during the next 3 months and, with a 90% probability hold a price between TRY 1,256.76 and TRY 1,909.30 at the end of this 3-month period.
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ALCAR.IS Signals & Forecast
There are mixed signals in the stock today. The Alarko Carrier Sanayi ve Ticaret 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 1,540.63. On a fall, the stock will find some support from the short-term average at TRY 1,411.43. 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. A sell signal was issued from a pivot top point on Tuesday, March 12, 2024, and so far it has fallen -20.04%. Further fall is indicated until a new bottom 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 Alarko Carrier Sanayi ve Ticaret A.S. stock
Alarko Carrier Sanayi ve Ticaret A.S. finds support from accumulated volume at TRY 1,452.00 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 80.00 between high and low, or 5.71%. For the last week, the stock has had daily average volatility of 3.92%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ALCAR.IS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Alarko Carrier Sanayi ve Ticaret A.S. to open at TRY 1,450.67, and during the day (based on 14 day Average True Range), to move between TRY 1,393.59 and TRY 1,550.41, which gives a possible trading interval of +/-TRY 78.41 (+/-5.33%) up or down from last closing price. If Alarko Carrier Sanayi ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 10.65% 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 1,475.00 (0.20%) than the support at TRY 1,452.00 (1.36%), 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 Carrier Sanayi ve Ticaret A.S. stock A Buy?
Alarko Carrier Sanayi ve Ticaret A.S. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.493 Sell Candidate Unchanged
Predicted Opening Price for Alarko Carrier Sanayi ve Ticaret A.S. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| TRY 1,450.67 ( 1.45%) | TRY 1,472.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALCAR.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,530.67 | 3.99 % | |
| R2 | 1,500.11 | 1.91 % | ||
| R1 | 1,481.23 | 0.627 % | ||
| Current price: | 1,472.00 | |||
| Support | S1 | 1,420.11 | -3.53 % | |
| S2 | 1,401.23 | -4.81 % | ||
| S3 | 1,370.67 | -6.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,829.00 | 24.25 % | |
| R2 | 1,815.00 | 23.30 % | ||
| R1 | 1,475.00 | 0.204 % | ||
| Current price | 1,472.00 | |||
| Support | S1 | 1,452.00 | -1.36% | |
| S2 | 1,370.00 | -6.93% | ||
| S3 | 1,304.00 | -11.41% |
FAQ
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