Biotrend Cevre ve Enerji Yatirimlari Stock Forecast
Biotrend Cevre ve Enerji Yatirimlari stock price up 0.799% on Friday
(Updated on Jun 14, 2024)
The Biotrend Cevre ve Enerji Yatirimlari stock price gained 0.799% on the last trading day (Friday, 14th Jun 2024), rising from TRY 20.02 to TRY 20.18. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.54% from a day low at TRY 19.50 to a day high of TRY 20.58. The price has risen in 8 of the last 10 days and is up by 8.15% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 7 million shares were bought and sold for approximately TRY 146.72 million.
The stock lies in the middle of a wide and weak 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 7.58% during the next 3 months and, with a 90% probability hold a price between TRY 18.47 and TRY 22.63 at the end of this 3-month period.
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BIOEN.IS Signals & Forecast
Mostly positive signals in the chart today. The Biotrend Cevre ve Enerji Yatirimlari 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 19.48 and TRY 19.03. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 19.62%. 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.
A buy signal from a double bottom formation was found on Wednesday, May 29, 2024 and based on theory for this formation the price should go up by 3.00% to TRY 20.78 within 34 trading days since signal was issued (Thursday, June 20, 2024).
Support, Risk & Stop-loss for Biotrend Cevre ve Enerji Yatirimlari stock
Biotrend Cevre ve Enerji Yatirimlari finds support from accumulated volume at TRY 19.20 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 1.08 between high and low, or 5.54%. For the last week, the stock has had daily average volatility of 3.91%.
Our recommended stop-loss: TRY 19.15 (-5.09%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (BIOEN.IS) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Biotrend Cevre ve Enerji Yatirimlari A.S. to open at TRY 20.09, and during the day (based on 14 day Average True Range), to move between TRY 19.33 and TRY 21.03, which gives a possible trading interval of +/-TRY 0.85 (+/-4.22%) up or down from last closing price. If Biotrend Cevre ve Enerji Yatirimlari A.S. takes out the full calculated possible swing range there will be an estimated 8.43% 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 20.20 (0.10%) than the support at TRY 19.20 (4.86%), 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 Biotrend Cevre ve Enerji Yatirimlari A.S. stock A Buy?
Biotrend Cevre ve Enerji Yatirimlari holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 5.577 Strong Buy Candidate Unchanged
Predicted Opening Price for Biotrend Cevre ve Enerji Yatirimlari A.S. of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| TRY 20.09 ( 0.463%) | TRY 20.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BIOEN.IS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.17 | 4.89% |
| R2 | 20.75 | 2.84% |
| R1 | 20.50 | 1.58% |
| Price | 20.18 | |
| S1 | 19.67 | -2.51% |
| S2 | 19.42 | -3.77% |
| S3 | 19.01 | -5.81% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 20.52 | 1.68% |
| R1 | 20.20 | 0.0991% |
| Price | 20.18 | |
| S1 | 19.20 | -4.86% |
| S2 | 18.28 | -9.42% |
| S3 | 17.97 | -10.95% |
FAQ
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