Astor Enerji A.S. Stock Forecast
Astor Enerji A.S. stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 17, 2024)
The Astor Enerji A.S. stock price gained 2.04% on the last trading day (Friday, 17th May 2024), rising from TRY 102.90 to TRY 105.00. During the last trading day the stock fluctuated 2.61% from a day low at TRY 103.50 to a day high of TRY 106.20. The price has risen in 6 of the last 10 days and is up by 0.86% 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, 3 million more shares were traded than the day before. In total, 14 million shares were bought and sold for approximately TRY 1.47 billion.
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 107.54 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 -16.87% during the next 3 months and, with a 90% probability hold a price between TRY 66.78 and TRY 89.40 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ASTOR.IS Signals & Forecast
The Astor Enerji 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 104.36 and TRY 98.53. A breakdown below any of these levels will issue sell signals. 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. 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 Tuesday, May 07, 2024, and so far it has fallen -4.98%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Astor Enerji A.S. stock
Astor Enerji A.S. finds support from accumulated volume at TRY 104.10 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 2.70 between high and low, or 2.61%. For the last week, the stock has had daily average volatility of 3.13%.
Our recommended stop-loss: TRY 99.80 (-4.95%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (ASTOR.IS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Astor Enerji A.S. to open at TRY 104.90, and during the day (based on 14 day Average True Range), to move between TRY 100.93 and TRY 109.07, which gives a possible trading interval of +/-TRY 4.07 (+/-3.88%) up or down from last closing price. If Astor Enerji A.S. takes out the full calculated possible swing range there will be an estimated 7.75% 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 105.20 (0.19%) than the support at TRY 104.10 (0.86%), 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 Astor Enerji A.S. stock A Buy?
Astor Enerji 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: -0.356 Hold/Accumulate Upgraded
Predicted Opening Price for Astor Enerji A.S. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| TRY 104.90 ( 0.0952%) | TRY 105.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASTOR.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 107.60 | 2.48 % | |
| R2 | 106.57 | 1.49 % | ||
| R1 | 105.93 | 0.89 % | ||
| Current price: | 105.00 | |||
| Support | S1 | 103.87 | -1.08 % | |
| S2 | 103.23 | -1.68 % | ||
| S3 | 102.20 | -2.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 108.70 | 3.52 % | |
| R2 | 106.00 | 0.95 % | ||
| R1 | 105.20 | 0.190 % | ||
| Current price | 105.00 | |||
| Support | S1 | 104.10 | -0.86% | |
| S2 | 101.40 | -3.43% | ||
| S3 | 100.30 | -4.48% |
FAQ
Click here for our free guide on how to buy Astor Enerji A.S. Stock.
