Borusan Mannesmann Boru Sanayi ve 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
Green day on Friday for Borusan Mannesmann Boru Sanayi ve
(Updated on May 03, 2024)
The Borusan Mannesmann Boru Sanayi ve stock price gained 0.486% on the last trading day (Friday, 3rd May 2024), rising from TRY 617.00 to TRY 620.00. During the last trading day the stock fluctuated 2.21% from a day low at TRY 609.50 to a day high of TRY 623.00. The price has risen in 6 of the last 10 days and is up by 4.64% over the past 2 weeks. Volume fell on the last day by -359 thousand shares and in total, 835 thousand shares were bought and sold for approximately TRY 517.73 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -13.24% during the next 3 months and, with a 90% probability hold a price between TRY 478.96 and TRY 586.17 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BRSAN.IS Signals & Forecast
The Borusan Mannesmann Boru Sanayi ve stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at TRY 605.43 and TRY 616.63. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 04, 2024, and so far it has risen 6.90%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Borusan Mannesmann Boru Sanayi ve stock
Borusan Mannesmann Boru Sanayi ve finds support from accumulated volume at TRY 616.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved TRY 13.50 (2.21%) between high and low. For the last week, the stock has had daily average volatility of 2.79%.
Our recommended stop-loss: TRY 589.07 (-4.99%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (BRSAN.IS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Borusan Mannesmann Boru Sanayi ve Ticaret A.S. to open at TRY 617.50, and during the day (based on 14 day Average True Range), to move between TRY 597.75 and TRY 642.25, which gives a possible trading interval of +/-TRY 22.25 (+/-3.59%) 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 7.18% 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 616.00 (0.65%) than the resistance at TRY 676.00 (9.03%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Borusan Mannesmann Boru Sanayi ve Ticaret A.S. will release earnings BMO on Monday, May 06, 2024. We will update the financials statements for Borusan Mannesmann Boru Sanayi ve Ticaret A.S., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.10% in the first trading day after earnings release.
Is Borusan Mannesmann Boru Sanayi ve Ticaret A.S. stock A Buy?
Borusan Mannesmann Boru Sanayi ve 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.
Current score: 0.396 Hold/Accumulate Unchanged
Predicted Opening Price for Borusan Mannesmann Boru Sanayi ve Ticaret A.S. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| TRY 617.50 ( 0.403%) | TRY 620.00 |
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 | 631.00 | 1.77 % | |
| R2 | 625.84 | 0.94 % | ||
| R1 | 622.66 | 0.429 % | ||
| Current price: | 620.00 | |||
| Support | S1 | 612.34 | -1.24 % | |
| S2 | 609.16 | -1.75 % | ||
| S3 | 604.00 | -2.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 745.50 | 20.24 % | |
| R2 | 710.00 | 14.52 % | ||
| R1 | 676.00 | 9.03 % | ||
| Current price | 620.00 | |||
| Support | S1 | 616.00 | -0.645% | |
| S2 | 614.00 | -0.97% | ||
| S3 | 603.50 | -2.66% |
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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