Alfa Solar Enerji Sanayi ve Ticaret A.S. Stock Forecast
Alfa Solar Enerji Sanayi ve Ticaret A.S. stock price up 1.87% on Friday
(Updated on May 03, 2024)
The Alfa Solar Enerji Sanayi ve Ticaret A.S. stock price gained 1.87% on the last trading day (Friday, 3rd May 2024), rising from TRY 93.45 to TRY 95.20. During the last trading day the stock fluctuated 3.95% from a day low at TRY 93.65 to a day high of TRY 97.35. The price has been going up and down for this period, and there has been a 2.92% gain for the last 2 weeks. Volume fell on the last day by -3 million shares and in total, 6 million shares were bought and sold for approximately TRY 582.41 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 the upper part of a very wide and falling 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 99.20 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -20.68% during the next 3 months and, with a 90% probability hold a price between TRY 61.45 and TRY 78.68 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ALFAS.IS Signals & Forecast
The Alfa Solar Enerji Sanayi ve Ticaret A.S. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at TRY 92.23 and TRY 92.94. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 6.01%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Alfa Solar Enerji Sanayi ve Ticaret A.S. stock
Alfa Solar Enerji Sanayi ve Ticaret A.S. finds support from accumulated volume at TRY 93.45 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 3.70 between high and low, or 3.95%. For the last week, the stock has had daily average volatility of 3.63%.
Our recommended stop-loss: TRY 91.77 (-3.60%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (ALFAS.IS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Alfa Solar Enerji Sanayi ve Ticaret A.S. to open at TRY 95.40, and during the day (based on 14 day Average True Range), to move between TRY 90.92 and TRY 99.48, which gives a possible trading interval of +/-TRY 4.28 (+/-4.50%) up or down from last closing price. If Alfa Solar Enerji Sanayi ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 8.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at TRY 93.45 (1.84%) than the resistance at TRY 101.20 (6.30%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Alfa Solar Enerji Sanayi ve Ticaret A.S. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 2.236 Buy Candidate Unchanged
Predicted Opening Price for Alfa Solar Enerji Sanayi ve Ticaret A.S. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| TRY 95.40 ( 0.210%) | TRY 95.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALFAS.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 99.10 | 4.10 % | |
| R2 | 97.69 | 2.61 % | ||
| R1 | 96.81 | 1.69 % | ||
| Current price: | 95.20 | |||
| Support | S1 | 93.99 | -1.27 % | |
| S2 | 93.11 | -2.19 % | ||
| S3 | 91.70 | -3.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 114.30 | 20.06 % | |
| R2 | 106.80 | 12.18 % | ||
| R1 | 101.20 | 6.30 % | ||
| Current price | 95.20 | |||
| Support | S1 | 93.45 | -1.84% | |
| S2 | 92.70 | -2.63% | ||
| S3 | 88.70 | -6.83% |
FAQ
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