Banvit Bandirma Vitaminli Yem Sanayii Stock Forecast

Banvit Bandirma Vitaminli Yem Sanayii stock price up more than 9.99% on Thursday
(Updated on May 09, 2024)

BANVT.IS Signals & Forecast

The Banvit Bandirma Vitaminli Yem Sanayii 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 210.33 and TRY 175.43. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 04, 2024, and so far it has risen 70.09%. 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 Banvit Bandirma Vitaminli Yem Sanayii stock

On the downside, the stock finds support just below today's level from accumulated volume at TRY 207.90 and TRY 198.00. 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, Banvit Bandirma Vitaminli Yem Sanayii finds support just below today's level at TRY 207.90. If this is broken, then the next support from accumulated volume will be at TRY 198.00 and TRY 193.60.

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 9.20 between high and low, or 3.72%. For the last week, the stock has had daily average volatility of 6.17%.

The Banvit Bandirma Vitaminli Yem Sanayii stock is extremely overbought on RSI14 (85). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken. Since the Banvit Bandirma Vitaminli Yem Sanayii has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.

Our recommended stop-loss: TRY 242.91 (-5.30%) (This stock has high daily movements and this gives high risk. The RSI14 is 85 and this increases the risk substantially. There is a buy signal from a pivot bottom found 20 days ago.)

Trading Expectations (BANVT.IS) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect Banvit Bandirma Vitaminli Yem Sanayii Anonim Sirketi to open at TRY 253.43, and during the day (based on 14 day Average True Range), to move between TRY 243.23 and TRY 269.77, which gives a possible trading interval of +/-TRY 13.27 (+/-5.18%) up or down from last closing price. If Banvit Bandirma Vitaminli Yem Sanayii Anonim Sirketi takes out the full calculated possible swing range there will be an estimated 10.35% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ TRY 207.90, some TRY 48.60 (18.95%) from the current price of TRY 256.50, our system finds the risk reward attractive.

Is Banvit Bandirma Vitaminli Yem Sanayii Anonim Sirketi stock A Buy?

Banvit Bandirma Vitaminli Yem Sanayii 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 Banvit Bandirma Vitaminli Yem Sanayii Anonim Sirketi of Friday, May 10, 2024

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