Bogazici Beton Sanayi Ve Ticaret Anonim Stock Forecast
Bogazici Beton Sanayi Ve Ticaret Anonim stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 17, 2024)
The Bogazici Beton Sanayi Ve Ticaret Anonim stock price gained 1.92% on the last trading day (Friday, 17th May 2024), rising from TRY 35.50 to TRY 36.18. During the last trading day the stock fluctuated 2.55% from a day low at TRY 35.28 to a day high of TRY 36.18. The price has fallen in 7 of the last 10 days and is down by -6.07% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 678 thousand more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately TRY 142.40 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Bogazici Beton Sanayi Ve Ticaret Anonim stock with a 90% probability to be traded between TRY 32.82 and TRY 38.90 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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BOBET.IS Signals & Forecast
The Bogazici Beton Sanayi Ve Ticaret Anonim 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 36.09 and TRY 36.02. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 15, 2024, and so far it has risen 3.85%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Bogazici Beton Sanayi Ve Ticaret Anonim stock
Bogazici Beton Sanayi Ve Ticaret Anonim finds support from accumulated volume at TRY 35.50 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 0.90 between high and low, or 2.55%. For the last week, the stock has had daily average volatility of 3.45%.
Our recommended stop-loss: TRY 34.42 (-4.86%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (BOBET.IS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Bogazici Beton Sanayi Ve Ticaret Anonim Sirketi to open at TRY 35.88, and during the day (based on 14 day Average True Range), to move between TRY 34.85 and TRY 37.51, which gives a possible trading interval of +/-TRY 1.33 (+/-3.69%) up or down from last closing price. If Bogazici Beton Sanayi Ve Ticaret Anonim Sirketi takes out the full calculated possible swing range there will be an estimated 7.37% 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 35.50 (1.88%) than the resistance at TRY 38.18 (5.53%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bogazici Beton Sanayi Ve Ticaret Anonim Sirketi stock A Buy?
Bogazici Beton Sanayi Ve Ticaret Anonim holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.426 Hold/Accumulate Upgraded
Predicted Opening Price for Bogazici Beton Sanayi Ve Ticaret Anonim Sirketi of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| TRY 35.88 ( 0.83%) | TRY 36.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BOBET.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 36.78 | 1.66 % | |
| R2 | 36.44 | 0.708 % | ||
| R1 | 36.22 | 0.121 % | ||
| Current price: | 36.18 | |||
| Support | S1 | 35.54 | -1.78 % | |
| S2 | 35.32 | -2.37 % | ||
| S3 | 34.98 | -3.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 38.96 | 7.68 % | |
| R2 | 38.46 | 6.30 % | ||
| R1 | 38.18 | 5.53 % | ||
| Current price | 36.18 | |||
| Support | S1 | 35.50 | -1.88% | |
| S2 | 34.60 | -4.37% | ||
| S3 | 33.38 | -7.74% |
FAQ
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