Birko Birlesik Koyunlulular Mensucat Stock Forecast
Birko Birlesik Koyunlulular Mensucat stock upgraded to Buy Candidate.
(Updated on May 03, 2024)
The Birko Birlesik Koyunlulular Mensucat stock price fell by -2.37% on the last day (Friday, 3rd May 2024) from TRY 6.34 to TRY 6.19. During the last trading day the stock fluctuated 1.78% from a day low at TRY 6.19 to a day high of TRY 6.30. The price has risen in 6 of the last 10 days and is up by 33.12% 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 -451 thousand shares and in total, 766 thousand shares were bought and sold for approximately TRY 4.74 million.
The stock lies in the upper part of a very wide and strong 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 6.37 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 35.72% during the next 3 months and, with a 90% probability hold a price between TRY 6.14 and TRY 8.64 at the end of this 3-month period.
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BRKO.IS Signals & Forecast
The Birko Birlesik Koyunlulular Mensucat 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 5.76 and TRY 4.69. 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 Thursday, May 02, 2024, and so far it has fallen -2.37%. 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 Birko Birlesik Koyunlulular Mensucat stock
Birko Birlesik Koyunlulular Mensucat finds support from accumulated volume at TRY 6.00 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved TRY 0.110 between high and low, or 1.78%. For the last week, the stock has had daily average volatility of 6.82%.
Our recommended stop-loss: TRY 5.92 (-4.44%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (BRKO.IS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Birko Birlesik Koyunlulular Mensucat Ticaret ve Sanayi A.S. to open at TRY 6.23, and during the day (based on 14 day Average True Range), to move between TRY 5.92 and TRY 6.46, which gives a possible trading interval of +/-TRY 0.272 (+/-4.40%) up or down from last closing price. If Birko Birlesik Koyunlulular Mensucat Ticaret ve Sanayi A.S. takes out the full calculated possible swing range there will be an estimated 8.80% 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 6.34 (2.42%) than the support at TRY 6.00 (3.07%), 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 Birko Birlesik Koyunlulular Mensucat Ticaret ve Sanayi 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 Birko Birlesik Koyunlulular Mensucat 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: 2.639 Buy Candidate Upgraded
Predicted Opening Price for Birko Birlesik Koyunlulular Mensucat Ticaret ve Sanayi A.S. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| TRY 6.23 ( 0.592%) | TRY 6.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BRKO.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.34 | 2.37 % | |
| R2 | 6.29 | 1.69 % | ||
| R1 | 6.27 | 1.27 % | ||
| Current price: | 6.19 | |||
| Support | S1 | 6.18 | -0.0865 % | |
| S2 | 6.16 | -0.506 % | ||
| S3 | 6.12 | -1.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 6.34 | 2.42 % | ||
| Current price | 6.19 | |||
| Support | S1 | 6.00 | -3.07% | |
| S2 | 5.38 | -13.09% | ||
| S3 | 4.89 | -21.00% |
FAQ
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