BIM Birlesik Magazalar A.S. Stock Forecast
Weaker technical forecast for BIM Birlesik Magazalar A.S. as stock downgraded to Buy Candidate.
(Updated on May 10, 2024)
The BIM Birlesik Magazalar A.S. stock price fell by -0.0588% on the last day (Friday, 10th May 2024) from TRY 425.00 to TRY 424.75. During the last trading day the stock fluctuated 1.54% from a day low at TRY 421.50 to a day high of TRY 428.00. The price has risen in 8 of the last 10 days and is up by 13.95% over the past 2 weeks. Volume has increased on the last day by 3 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 6 million shares were bought and sold for approximately TRY 2.47 billion.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at TRY 425.20 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 2.85% during the next 3 months and, with a 90% probability hold a price between TRY 362.15 and TRY 437.33 at the end of this 3-month period.
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BIMAS.IS Signals & Forecast
The BIM Birlesik Magazalar A.S. 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 418.18 and TRY 384.61. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 09, 2024, and so far it has fallen -0.0588%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for BIM Birlesik Magazalar A.S. stock
On the downside, the stock finds support just below today's level from accumulated volume at TRY 402.25 and TRY 387.75. 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, BIM Birlesik Magazalar A.S. finds support just below today's level at TRY 402.25. If this is broken, then the next support from accumulated volume will be at TRY 387.75 and TRY 385.00.
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 6.50 between high and low, or 1.54%. For the last week, the stock has had daily average volatility of 2.26%.
The BIM Birlesik Magazalar A.S. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: TRY 415.57 (-2.16%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 93 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (BIMAS.IS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect BIM Birlesik Magazalar A.S. to open at TRY 424.75, and during the day (based on 14 day Average True Range), to move between TRY 412.59 and TRY 436.91, which gives a possible trading interval of +/-TRY 12.16 (+/-2.86%) up or down from last closing price. If BIM Birlesik Magazalar A.S. takes out the full calculated possible swing range there will be an estimated 5.73% 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 425.00 (0.06%) than the support at TRY 402.25 (5.30%), 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.
Earnings coming up
BIM Birlesik Magazalar A.S. will release earnings BMO on Monday, May 13, 2024.The consensus among the analysts for the expected earnings (EPS) is $6.77. We will update the financials statements for BIM Birlesik Magazalar A.S., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.10% in the first trading day after earnings release.
Is BIM Birlesik Magazalar A.S. 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 BIM Birlesik Magazalar A.S. stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 1.251 Buy Candidate Downgraded
Predicted Opening Price for BIM Birlesik Magazalar A.S. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| TRY 424.75 ( 0%) | TRY 424.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BIMAS.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 431.25 | 1.53 % | |
| R2 | 428.77 | 0.95 % | ||
| R1 | 427.23 | 0.585 % | ||
| Current price: | 424.75 | |||
| Support | S1 | 422.27 | -0.585 % | |
| S2 | 420.73 | -0.95 % | ||
| S3 | 418.25 | -1.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 425.00 | 0.0589 % | ||
| Current price | 424.75 | |||
| Support | S1 | 402.25 | -5.30% | |
| S2 | 387.75 | -8.71% | ||
| S3 | 385.00 | -9.36% |
BIMAS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | TRY 0 | 0% |
| 2 | Jun 14, 2023 | Jun 14, 2023 | Jun 14, 2023 | TRY 2.00 | 1.24% |
| 3 | Dec 14, 2022 | Dec 14, 2022 | Dec 14, 2022 | TRY 1.50 | 1.17% |
| 4 | Jun 15, 2022 | Jun 15, 2022 | Jun 15, 2022 | TRY 1.50 | 1.79% |
| 5 | Nov 17, 2021 | Nov 17, 2021 | Nov 17, 2021 | TRY 2.00 | 3.06% |
FAQ
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