Alkim Kagit Sanayi ve Ticaret AS Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Stronger technical forecast for Alkim Kagit Sanayi ve Ticaret AS stock price after Friday trading.
(Updated on May 17, 2024)
The Alkim Kagit Sanayi ve Ticaret AS stock price gained 0.85% on the last trading day (Friday, 17th May 2024), rising from TRY 28.10 to TRY 28.34. During the last trading day the stock fluctuated 2.00% from a day low at TRY 27.94 to a day high of TRY 28.50. The price has fallen in 6 of the last 10 days and is down by -2.48% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 87 thousand more shares were traded than the day before. In total, 724 thousand shares were bought and sold for approximately TRY 20.51 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -23.69% during the next 3 months and, with a 90% probability hold a price between TRY 16.07 and TRY 24.21 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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ALKA.IS Signals & Forecast
The Alkim Kagit Sanayi ve Ticaret AS 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 27.95 and TRY 28.20. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -7.87%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Alkim Kagit Sanayi ve Ticaret AS stock
Alkim Kagit Sanayi ve Ticaret AS finds support from accumulated volume at TRY 28.20 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 0.560 between high and low, or 2.00%. For the last week, the stock has had daily average volatility of 4.22%.
Our recommended stop-loss: TRY 26.88 (-5.16%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 26 days ago.)
Trading Expectations (ALKA.IS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Alkim Kagit Sanayi ve Ticaret AS to open at TRY 28.26, and during the day (based on 14 day Average True Range), to move between TRY 26.99 and TRY 29.69, which gives a possible trading interval of +/-TRY 1.35 (+/-4.75%) up or down from last closing price. If Alkim Kagit Sanayi ve Ticaret AS takes out the full calculated possible swing range there will be an estimated 9.49% 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 28.20 (0.49%) than the resistance at TRY 34.04 (20.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Alkim Kagit Sanayi ve Ticaret AS 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.392 Buy Candidate Upgraded
Predicted Opening Price for Alkim Kagit Sanayi ve Ticaret AS of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| TRY 28.26 ( 0.282%) | TRY 28.34 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALKA.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.82 | 1.69 % | |
| R2 | 28.61 | 0.94 % | ||
| R1 | 28.47 | 0.473 % | ||
| Current price: | 28.34 | |||
| Support | S1 | 28.05 | -1.04 % | |
| S2 | 27.91 | -1.50 % | ||
| S3 | 27.70 | -2.26 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 35.40 | 24.91 % | |
| R2 | 34.70 | 22.44 % | ||
| R1 | 34.04 | 20.11 % | ||
| Current price | 28.34 | |||
| Support | S1 | 28.20 | -0.494% | |
| S2 | 28.08 | -0.92% | ||
| S3 | 27.88 | -1.62% |
FAQ
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