Barem Ambalaj Sanayi ve Ticaret Anonim Stock Forecast
Barem Ambalaj Sanayi ve Ticaret Anonim stock price ended at TRY 19.38 on Wednesday, after gaining 0.0516%.
(Updated on May 22, 2024)
The Barem Ambalaj Sanayi ve Ticaret Anonim stock price gained 0.0516% on the last trading day (Wednesday, 22nd May 2024), rising from TRY 19.37 to TRY 19.38. During the last trading day the stock fluctuated 3.04% from a day low at TRY 19.07 to a day high of TRY 19.65. The price has fallen in 6 of the last 10 days and is down by -12.55% for this period. Volume fell on the last day by -391 thousand shares and in total, 1 million shares were bought and sold for approximately TRY 22.83 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Barem Ambalaj Sanayi ve Ticaret Anonim stock with a 90% probability to be traded between TRY 17.91 and TRY 23.23 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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BARMA.IS Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, May 21, 2024, and so far it has risen 0.0516%. Further rise is indicated until a new top pivot has been found. 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 Barem Ambalaj Sanayi ve Ticaret Anonim stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at TRY 19.65 and TRY 20.01. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Barem Ambalaj Sanayi ve Ticaret Anonim stock
Barem Ambalaj Sanayi ve Ticaret Anonim finds support from accumulated volume at TRY 19.37 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 0.580 between high and low, or 3.04%. For the last week, the stock has had daily average volatility of 3.92%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BARMA.IS) For The Upcoming Trading Day Of Thursday 23rd
For the upcoming trading day on Thursday, 23rd we expect Barem Ambalaj Sanayi ve Ticaret Anonim Sirketi to open at TRY 19.37, and during the day (based on 14 day Average True Range), to move between TRY 18.38 and TRY 20.38, which gives a possible trading interval of +/-TRY 1.00 (+/-5.14%) up or down from last closing price. If Barem Ambalaj Sanayi ve Ticaret Anonim Sirketi takes out the full calculated possible swing range there will be an estimated 10.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at TRY 19.37 (0.05%) than the resistance at TRY 20.00 (3.20%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Barem Ambalaj Sanayi ve Ticaret Anonim Sirketi stock A Buy?
Barem Ambalaj Sanayi ve Ticaret Anonim holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.188 Sell Candidate Unchanged
Predicted Opening Price for Barem Ambalaj Sanayi ve Ticaret Anonim Sirketi of Thursday, May 23, 2024
| Fair opening price May 23, 2024 | Current price |
|---|---|
| TRY 19.37 ( 0.0688%) | TRY 19.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BARMA.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.95 | 2.92 % | |
| R2 | 19.73 | 1.78 % | ||
| R1 | 19.59 | 1.07 % | ||
| Current price: | 19.38 | |||
| Support | S1 | 19.15 | -1.21 % | |
| S2 | 19.01 | -1.92 % | ||
| S3 | 18.79 | -3.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.64 | 6.50 % | |
| R2 | 20.02 | 3.30 % | ||
| R1 | 20.00 | 3.20 % | ||
| Current price | 19.38 | |||
| Support | S1 | 19.37 | -0.0516% | |
| S2 | 18.58 | -4.13% | ||
| S3 | 18.49 | -4.59% |
FAQ
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