Banvit Bandirma Vitaminli Yem Sanayii Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Friday for Banvit Bandirma Vitaminli Yem Sanayii stock after losing 3.80%
(Updated on May 31, 2024)
The Banvit Bandirma Vitaminli Yem Sanayii stock price fell by -3.80% on the last day (Friday, 31st May 2024) from TRY 282.75 to TRY 272.00. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.23% from a day low at TRY 271.00 to a day high of TRY 279.75. The price has been going up and down for this period, and there has been a 6.04% gain for the last 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 -636 thousand shares and in total, 243 thousand shares were bought and sold for approximately TRY 66.23 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 73.83% during the next 3 months and, with a 90% probability hold a price between TRY 404.04 and TRY 581.81 at the end of this 3-month period.
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BANVT.IS Signals & Forecast
The Banvit Bandirma Vitaminli Yem Sanayii 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 294.25. On a fall, the stock will find some support from the long-term average at approximately TRY 229.91. 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 Thursday, May 23, 2024, and so far it has fallen -15.07%. 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 Banvit Bandirma Vitaminli Yem Sanayii stock
On the downside, the stock finds support just below today's level from accumulated volume at TRY 256.50 and TRY 249.80. 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 256.50. If this is broken, then the next support from accumulated volume will be at TRY 249.80 and TRY 249.50.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved TRY 8.75 between high and low, or 3.23%. For the last week, the stock has had daily average volatility of 7.25%.
Our recommended stop-loss: TRY 255.63 (-6.02%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 36 days ago.)
Trading Expectations (BANVT.IS) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Banvit Bandirma Vitaminli Yem Sanayii Anonim Sirketi to open at TRY 274.25, and during the day (based on 14 day Average True Range), to move between TRY 249.60 and TRY 294.40, which gives a possible trading interval of +/-TRY 22.40 (+/-8.23%) 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 16.47% 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 277.75 (2.11%) than the support at TRY 256.50 (5.70%), 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 Banvit Bandirma Vitaminli Yem Sanayii Anonim Sirketi stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Banvit Bandirma Vitaminli Yem Sanayii stock to perform well in the short-term.
Current score: 2.807 Buy Candidate Unchanged
Predicted Opening Price for Banvit Bandirma Vitaminli Yem Sanayii Anonim Sirketi of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| TRY 274.25 ( 0.83%) | TRY 272.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BANVT.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 283.00 | 4.04 % | |
| R2 | 279.66 | 2.82 % | ||
| R1 | 277.59 | 2.06 % | ||
| Current price: | 272.00 | |||
| Support | S1 | 270.91 | -0.402 % | |
| S2 | 268.84 | -1.16 % | ||
| S3 | 265.50 | -2.39 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 312.00 | 14.71 % | |
| R2 | 282.00 | 3.68 % | ||
| R1 | 277.75 | 2.11 % | ||
| Current price | 272.00 | |||
| Support | S1 | 256.50 | -5.70% | |
| S2 | 249.80 | -8.16% | ||
| S3 | 249.50 | -8.27% |
FAQ
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