Borusan Mannesmann Boru Sanayi ve Stock Forecast
Weaker technical forecast for Borusan Mannesmann Boru Sanayi ve as stock downgraded to Sell Candidate.
(Updated on Apr 24, 2024)
The Borusan Mannesmann Boru Sanayi ve stock price fell by -1.08% on the last day (Wednesday, 24th Apr 2024) from TRY 600.50 to TRY 594.00. During the last trading day the stock fluctuated 2.44% from a day low at TRY 594.00 to a day high of TRY 608.50. The price has been going up and down for this period, and there has been a 2.41% gain for the last 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 -125 thousand shares and in total, 459 thousand shares were bought and sold for approximately TRY 272.64 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at TRY 571.02 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -7.01% during the next 3 months and, with a 90% probability hold a price between TRY 531.02 and TRY 664.89 at the end of this 3-month period.
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BRSAN.IS Signals & Forecast
There are mixed signals in the stock today. The Borusan Mannesmann Boru Sanayi ve stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at TRY 599.64 and TRY 630.46. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Thursday, April 04, 2024, and so far it has risen 2.41%. 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).
Support, Risk & Stop-loss for Borusan Mannesmann Boru Sanayi ve stock
Borusan Mannesmann Boru Sanayi ve finds support from accumulated volume at TRY 587.00 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 14.50 between high and low, or 2.44%. For the last week, the stock has had daily average volatility of 2.68%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BRSAN.IS) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Borusan Mannesmann Boru Sanayi ve Ticaret A.S. to open at TRY 598.83, and during the day (based on 14 day Average True Range), to move between TRY 569.17 and TRY 618.83, which gives a possible trading interval of +/-TRY 24.83 (+/-4.18%) up or down from last closing price. If Borusan Mannesmann Boru Sanayi ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 8.36% 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 587.00 (1.18%) than the resistance at TRY 664.50 (11.87%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Borusan Mannesmann Boru Sanayi ve Ticaret A.S. stock A Buy?
Borusan Mannesmann Boru Sanayi ve holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.186 Sell Candidate Downgraded
Predicted Opening Price for Borusan Mannesmann Boru Sanayi ve Ticaret A.S. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| TRY 598.83 ( 0.81%) | TRY 594.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BRSAN.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 613.33 | 3.25 % | |
| R2 | 607.79 | 2.32 % | ||
| R1 | 604.37 | 1.75 % | ||
| Current price: | 594.00 | |||
| Support | S1 | 593.29 | -0.119 % | |
| S2 | 589.87 | -0.695 % | ||
| S3 | 584.33 | -1.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 710.00 | 19.53 % | |
| R2 | 676.00 | 13.80 % | ||
| R1 | 664.50 | 11.87 % | ||
| Current price | 594.00 | |||
| Support | S1 | 587.00 | -1.18% | |
| S2 | 585.00 | -1.52% | ||
| S3 | 580.00 | -2.36% |
BRSAN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2019 | May 31, 2019 | May 31, 2019 | TRY 0.82 | 10.79% |
| 2 | May 16, 2019 | May 16, 2019 | May 16, 2019 | TRY 0.82 | 11.04% |
| 3 | May 15, 2018 | May 15, 2018 | May 15, 2018 | TRY 0.615 | 6.47% |
| 4 | May 31, 2017 | May 31, 2017 | May 31, 2017 | TRY 0.595 | 6.62% |
| 5 | May 31, 2016 | May 31, 2016 | May 31, 2016 | TRY 0.140 | 1.88% |
FAQ
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