A.V.O.D. Kurutulmus Gida ve Tarim Stock Forecast
Volatile ride for A.V.O.D. Kurutulmus Gida ve Tarim stock price on Thursday moving between TRY 3.66 and TRY 4.05
(Updated on May 09, 2024)
The A.V.O.D. Kurutulmus Gida ve Tarim stock price gained 9.76% on the last trading day (Thursday, 9th May 2024), rising from TRY 3.69 to TRY 4.05. During the last trading day the stock fluctuated 10.66% from a day low at TRY 3.66 to a day high of TRY 4.05. The price has been going up and down for this period, and there has been a 14.08% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 36 million more shares were traded than the day before. In total, 46 million shares were bought and sold for approximately TRY 185.58 million.
Given the current short-term trend, the stock is expected to fall -6.98% during the next 3 months and, with a 90% probability hold a price between TRY 2.85 and TRY 3.77 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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AVOD.IS Signals & Forecast
The A.V.O.D. Kurutulmus Gida ve Tarim 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 3.71 and TRY 3.49. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 03, 2024, and so far it has risen 27.76%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for A.V.O.D. Kurutulmus Gida ve Tarim stock
On the downside, the stock finds support just below today's level from accumulated volume at TRY 3.80 and TRY 3.77. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, A.V.O.D. Kurutulmus Gida ve Tarim finds support just below today's level at TRY 3.80. If this is broken, then the next support from accumulated volume will be at TRY 3.77 and TRY 3.63.
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 0.390 between high and low, or 10.66%. For the last week, the stock has had daily average volatility of 4.71%.
The A.V.O.D. Kurutulmus Gida ve Tarim stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: TRY 3.85 (-4.84%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 80 and this increases the risk substantially. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (AVOD.IS) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect A.V.O.D. Kurutulmus Gida ve Tarim Urunleri A.S. to open at TRY 3.92, and during the day (based on 14 day Average True Range), to move between TRY 3.90 and TRY 4.20, which gives a possible trading interval of +/-TRY 0.153 (+/-3.77%) up or down from last closing price. If A.V.O.D. Kurutulmus Gida ve Tarim Urunleri A.S. takes out the full calculated possible swing range there will be an estimated 7.54% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ TRY 3.80, some TRY 0.250 (6.17%) from the current price of TRY 4.05, our system finds the risk reward attractive.
Is A.V.O.D. Kurutulmus Gida ve Tarim Urunleri A.S. stock A Buy?
A.V.O.D. Kurutulmus Gida ve Tarim 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for A.V.O.D. Kurutulmus Gida ve Tarim Urunleri A.S. of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| TRY 3.92 ( 3.21%) | TRY 4.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AVOD.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.31 | 6.42 % | |
| R2 | 4.16 | 2.74 % | ||
| R1 | 4.07 | 0.469 % | ||
| Current price: | 4.05 | |||
| Support | S1 | 3.77 | -6.89 % | |
| S2 | 3.68 | -9.16 % | ||
| S3 | 3.53 | -12.84 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 4.05 | |||
| Support | S1 | 3.80 | -6.17% | |
| S2 | 3.77 | -6.91% | ||
| S3 | 3.63 | -10.37% |
FAQ
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