Bossa Ticaret ve Sanayi Isletmeleri Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Stronger technical forecast for Bossa Ticaret ve Sanayi Isletmeleri stock price after Friday trading.
(Updated on May 17, 2024)
The Bossa Ticaret ve Sanayi Isletmeleri stock price gained 4.08% on the last trading day (Friday, 17th May 2024), rising from TRY 15.18 to TRY 15.80. During the last trading day the stock fluctuated 9.40% from a day low at TRY 15.10 to a day high of TRY 16.52. The price has risen in 6 of the last 10 days and is up by 13.67% 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, 5 million more shares were traded than the day before. In total, 10 million shares were bought and sold for approximately TRY 160.53 million.
Given the current short-term trend, the stock is expected to rise 24.08% during the next 3 months and, with a 90% probability hold a price between TRY 13.76 and TRY 19.60 at the end of this 3-month period.
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BOSSA.IS Signals & Forecast
Mostly positive signals in the chart today. 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 14.53 and TRY 12.10. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 03, 2024, and so far it has risen 63.05%. 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.
Support, Risk & Stop-loss for Bossa Ticaret ve Sanayi Isletmeleri stock
Bossa Ticaret ve Sanayi Isletmeleri finds support from accumulated volume at TRY 15.19 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 1.42 between high and low, or 9.40%. For the last week, the stock has had daily average volatility of 7.98%.
The Bossa Ticaret ve Sanayi Isletmeleri 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 15.26 (-3.42%) (This stock has high daily movements and this gives high risk. The RSI14 is 79 and this increases the risk substantially. There is a buy signal from a pivot bottom found 27 days ago.)
Trading Expectations (BOSSA.IS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Bossa Ticaret ve Sanayi Isletmeleri T.A.S. to open at TRY 15.81, and during the day (based on 14 day Average True Range), to move between TRY 14.88 and TRY 16.72, which gives a possible trading interval of +/-TRY 0.92 (+/-5.83%) 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 11.66% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ TRY 15.19, some TRY 0.610 (3.86%) from the current price of TRY 15.80, our system finds the risk reward attractive.
Is Bossa Ticaret ve Sanayi Isletmeleri T.A.S. stock A Buy?
Bossa Ticaret ve Sanayi Isletmeleri holds several positive signals and is within a strong 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.375 Strong Buy Candidate Upgraded
Predicted Opening Price for Bossa Ticaret ve Sanayi Isletmeleri T.A.S. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| TRY 15.81 ( 0.0422%) | TRY 15.80 |
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 | 17.23 | 9.03 % | |
| R2 | 16.68 | 5.60 % | ||
| R1 | 16.35 | 3.48 % | ||
| Current price: | 15.80 | |||
| Support | S1 | 15.26 | -3.39 % | |
| S2 | 14.93 | -5.51 % | ||
| S3 | 14.39 | -8.95 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 15.80 | |||
| Support | S1 | 15.19 | -3.86% | |
| S2 | 15.05 | -4.75% | ||
| S3 | 13.90 | -12.03% |
FAQ
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