Bms Birlesik Metal Sanayi ve Ticaret Stock Forecast
Bms Birlesik Metal Sanayi ve Ticaret stock price ended at TRY 34.14 on Friday, after gaining 1.25%.
(Updated on May 17, 2024)
The Bms Birlesik Metal Sanayi ve Ticaret stock price gained 1.25% on the last trading day (Friday, 17th May 2024), rising from TRY 33.72 to TRY 34.14. It has now gained 3 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 1.54% from a day low at TRY 33.72 to a day high of TRY 34.24. The price has risen in 8 of the last 10 days and is up by 6.82% over the past 2 weeks. Volume fell on the last day by -740 thousand shares and in total, 2 million shares were bought and sold for approximately TRY 71.21 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 stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is TRY 33.13, a level that may pose a second chance to hit a runner. According to fan-theory TRY 37.98 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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BMSTL.IS Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -0.640%. 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). The Bms Birlesik Metal Sanayi ve Ticaret 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 33.10 and TRY 32.45. A breakdown below any of these levels will issue sell signals. 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.
Support, Risk & Stop-loss for Bms Birlesik Metal Sanayi ve Ticaret stock
Bms Birlesik Metal Sanayi ve Ticaret finds support from accumulated volume at TRY 33.72 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved TRY 0.520 (1.54%) between high and low. For the last week, the stock has had daily average volatility of 2.58%.
Our recommended stop-loss: TRY 33.06 (-3.17%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (BMSTL.IS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Bms Birlesik Metal Sanayi ve Ticaret A.S. to open at TRY 34.03, and during the day (based on 14 day Average True Range), to move between TRY 33.16 and TRY 35.12, which gives a possible trading interval of +/-TRY 0.98 (+/-2.87%) up or down from last closing price. If Bms Birlesik Metal Sanayi ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 5.74% 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 34.34 (0.59%) than the support at TRY 33.72 (1.23%), 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 Bms Birlesik Metal Sanayi ve Ticaret A.S. stock A Buy?
Several short term signals are positive and the break up from the falling indicates a possible shift of trend. We believe prices around the breaking point to be particularly good levels but also believe that the current level will hold a possible good buy level for the short term.
Current score: 1.383 Buy Candidate Unchanged
Predicted Opening Price for Bms Birlesik Metal Sanayi ve Ticaret A.S. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| TRY 34.03 ( 0.312%) | TRY 34.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BMSTL.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.55 | 1.21 % | |
| R2 | 34.35 | 0.629 % | ||
| R1 | 34.23 | 0.269 % | ||
| Current price: | 34.14 | |||
| Support | S1 | 33.83 | -0.89 % | |
| S2 | 33.71 | -1.25 % | ||
| S3 | 33.51 | -1.84 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 35.50 | 3.98 % | |
| R2 | 34.80 | 1.93 % | ||
| R1 | 34.34 | 0.586 % | ||
| Current price | 34.14 | |||
| Support | S1 | 33.72 | -1.23% | |
| S2 | 32.80 | -3.93% | ||
| S3 | 31.10 | -8.90% |
FAQ
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