Bossa Ticaret ve Sanayi Isletmeleri Stock Forecast
Bossa Ticaret ve Sanayi Isletmeleri stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on May 07, 2024)
The Bossa Ticaret ve Sanayi Isletmeleri stock price fell by -4.02% on the last day (Tuesday, 7th May 2024) from TRY 14.18 to TRY 13.61. During the last trading day the stock fluctuated 9.52% from a day low at TRY 13.45 to a day high of TRY 14.73. The price has risen in 7 of the last 10 days and is up by 18.86% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -5 million shares and in total, 5 million shares were bought and sold for approximately TRY 71.07 million.
The stock lies in the upper part of a very 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 14.20 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 7.38% during the next 3 months and, with a 90% probability hold a price between TRY 10.75 and TRY 15.24 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BOSSA.IS Signals & Forecast
The Bossa Ticaret ve Sanayi Isletmeleri 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 13.22 and TRY 11.20. 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 Monday, May 06, 2024, and so far it has fallen -4.02%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Bossa Ticaret ve Sanayi Isletmeleri stock
Bossa Ticaret ve Sanayi Isletmeleri finds support from accumulated volume at TRY 13.05 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved TRY 1.28 between high and low, or 9.52%. For the last week, the stock has had daily average volatility of 10.67%.
Our recommended stop-loss: TRY 12.91 (-5.15%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (BOSSA.IS) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Bossa Ticaret ve Sanayi Isletmeleri T.A.S. to open at TRY 13.93, and during the day (based on 14 day Average True Range), to move between TRY 12.77 and TRY 14.45, which gives a possible trading interval of +/-TRY 0.84 (+/-6.17%) up or down from last closing price. If Bossa Ticaret ve Sanayi Isletmeleri T.A.S. takes out the full calculated possible swing range there will be an estimated 12.34% 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 13.64 (0.22%) than the support at TRY 13.05 (4.11%), 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 Bossa Ticaret ve Sanayi Isletmeleri T.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 Bossa Ticaret ve Sanayi Isletmeleri stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.567 Buy Candidate Upgraded
Predicted Opening Price for Bossa Ticaret ve Sanayi Isletmeleri T.A.S. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| TRY 13.93 ( 2.35%) | TRY 13.61 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BOSSA.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.21 | 11.76 % | |
| R2 | 14.72 | 8.16 % | ||
| R1 | 14.42 | 5.94 % | ||
| Current price: | 13.61 | |||
| Support | S1 | 13.44 | -1.24 % | |
| S2 | 13.14 | -3.46 % | ||
| S3 | 12.65 | -7.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.18 | 4.19 % | |
| R2 | 13.90 | 2.13 % | ||
| R1 | 13.64 | 0.220 % | ||
| Current price | 13.61 | |||
| Support | S1 | 13.05 | -4.11% | |
| S2 | 11.16 | -18.00% | ||
| S3 | 10.60 | -22.12% |
FAQ
Click here for our free guide on how to buy Bossa Ticaret ve Sanayi Isletmeleri T.A.S. Stock.
