Bak Ambalaj Sanayi ve Ticaret A.S. Stock Forecast

Bak Ambalaj Sanayi ve Ticaret A.S. stock price down 0.90% on Friday
(Updated on May 10, 2024)

BAKAB.IS Signals & Forecast

The Bak Ambalaj Sanayi ve Ticaret A.S. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately TRY 55.66. On a fall, the stock will find some support from the long-term average at approximately TRY 49.01. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell 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 Wednesday, May 08, 2024, and so far it has fallen -4.09%. 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 Bak Ambalaj Sanayi ve Ticaret A.S. stock

On the downside, the stock finds support just below today's level from accumulated volume at TRY 51.70 and TRY 49.10. 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, Bak Ambalaj Sanayi ve Ticaret A.S. finds support just below today's level at TRY 51.70. If this is broken, then the next support from accumulated volume will be at TRY 49.10 and TRY 45.38.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved TRY 2.25 between high and low, or 4.21%. For the last week, the stock has had daily average volatility of 5.49%.

Our recommended stop-loss: TRY 52.21 (-5.33%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (BAKAB.IS) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Bak Ambalaj Sanayi ve Ticaret A.S. to open at TRY 54.73, and during the day (based on 14 day Average True Range), to move between TRY 52.25 and TRY 58.05, which gives a possible trading interval of +/-TRY 2.90 (+/-5.25%) up or down from last closing price. If Bak Ambalaj Sanayi ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 10.51% 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 55.45 (0.54%) than the support at TRY 51.70 (6.26%), 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 Bak Ambalaj Sanayi ve Ticaret A.S. stock A Buy?

Bak Ambalaj Sanayi ve Ticaret 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.

Current score: 0.100 Hold/Accumulate Unchanged

Predicted Opening Price for Bak Ambalaj Sanayi ve Ticaret A.S. of Monday, May 13, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.