Avrasya Gayrimenkul Yatirim Ortakligi Stock Forecast
Evaluation of Avrasya Gayrimenkul Yatirim Ortakligi stock downgraded after the last trading session.
(Updated on May 10, 2024)
The Avrasya Gayrimenkul Yatirim Ortakligi stock price fell by -0.746% on the last day (Friday, 10th May 2024) from TRY 9.38 to TRY 9.31. During the last trading day the stock fluctuated 5.09% from a day low at TRY 9.04 to a day high of TRY 9.50. The price has risen in 6 of the last 10 days and is up by 7.01% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -43 thousand shares and in total, 778 thousand shares were bought and sold for approximately TRY 7.25 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Avrasya Gayrimenkul Yatirim Ortakligi stock with a 90% probability to be traded between TRY 7.24 and TRY 9.87 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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AVGYO.IS Signals & Forecast
The Avrasya Gayrimenkul Yatirim Ortakligi 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 9.08 and TRY 8.44. A breakdown below any of these levels will issue sell signals. 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 Thursday, April 18, 2024, and so far it has fallen -1.59%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Avrasya Gayrimenkul Yatirim Ortakligi stock
Avrasya Gayrimenkul Yatirim Ortakligi finds support from accumulated volume at TRY 9.12 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 0.460 between high and low, or 5.09%. For the last week, the stock has had daily average volatility of 3.99%.
Our recommended stop-loss: TRY 8.91 (-4.25%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (AVGYO.IS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Avrasya Gayrimenkul Yatirim Ortakligi Anonim Sirketi to open at TRY 9.28, and during the day (based on 14 day Average True Range), to move between TRY 8.92 and TRY 9.70, which gives a possible trading interval of +/-TRY 0.388 (+/-4.17%) up or down from last closing price. If Avrasya Gayrimenkul Yatirim Ortakligi Anonim Sirketi takes out the full calculated possible swing range there will be an estimated 8.34% 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 9.46 (1.61%) than the support at TRY 9.12 (2.04%), 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 Avrasya Gayrimenkul Yatirim Ortakligi Anonim Sirketi stock A Buy?
Avrasya Gayrimenkul Yatirim Ortakligi 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.369 Hold/Accumulate Downgraded
Predicted Opening Price for Avrasya Gayrimenkul Yatirim Ortakligi Anonim Sirketi of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| TRY 9.28 ( 0.286%) | TRY 9.31 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AVGYO.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.74 | 4.65 % | |
| R2 | 9.57 | 2.77 % | ||
| R1 | 9.46 | 1.60 % | ||
| Current price: | 9.31 | |||
| Support | S1 | 9.11 | -2.17 % | |
| S2 | 9.00 | -3.34 % | ||
| S3 | 8.82 | -5.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.12 | 8.70 % | |
| R2 | 9.66 | 3.76 % | ||
| R1 | 9.46 | 1.61 % | ||
| Current price | 9.31 | |||
| Support | S1 | 9.12 | -2.04% | |
| S2 | 8.30 | -10.85% | ||
| S3 | 7.92 | -14.93% |
FAQ
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