Bak Ambalaj Sanayi ve Ticaret A.S. Stock Forecast

Bak Ambalaj Sanayi ve Ticaret A.S. stock price up 3.04% on Wednesday
(Updated on May 22, 2024)

BAKAB.IS Signals & Forecast

Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Bak Ambalaj Sanayi ve Ticaret A.S. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at TRY 49.93. On a fall, the stock will find some support from the short-term average at TRY 47.61. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, May 08, 2024, and so far it has fallen -15.17%. 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 Bak Ambalaj Sanayi ve Ticaret A.S. stock

Bak Ambalaj Sanayi ve Ticaret A.S. finds support from accumulated volume at TRY 47.90 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 1.62 between high and low, or 3.43%. For the last week, the stock has had daily average volatility of 3.43%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (BAKAB.IS) For The Upcoming Trading Day Of Thursday 23rd

For the upcoming trading day on Thursday, 23rd we expect Bak Ambalaj Sanayi ve Ticaret A.S. to open at TRY 48.29, and during the day (based on 14 day Average True Range), to move between TRY 46.21 and TRY 51.35, which gives a possible trading interval of +/-TRY 2.57 (+/-5.27%) 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 10.55% 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 49.10 (0.66%) than the support at TRY 47.90 (1.80%), 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?

The Bak Ambalaj Sanayi ve Ticaret A.S. stock holds several negative signals and despite the positive trend, we believe Bak Ambalaj Sanayi ve Ticaret A.S. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.460 Sell Candidate Unchanged

Predicted Opening Price for Bak Ambalaj Sanayi ve Ticaret A.S. of Thursday, May 23, 2024

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