Burçelik Vana Sanayi ve Ticaret A.S. Stock Forecast
Evaluation of Burçelik Vana Sanayi ve Ticaret A.S. stock downgraded after the last trading session.
(Updated on May 10, 2024)
The Burçelik Vana Sanayi ve Ticaret A.S. stock price fell by -4.30% on the last day (Friday, 10th May 2024) from TRY 158.00 to TRY 151.20. During the last trading day the stock fluctuated 4.98% from a day low at TRY 150.50 to a day high of TRY 158.00. The price has fallen in 7 of the last 10 days and is down by -19.87% for this period. 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 -127 thousand shares and in total, 243 thousand shares were bought and sold for approximately TRY 36.72 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at TRY 149.85 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 30.50% during the next 3 months and, with a 90% probability hold a price between TRY 195.56 and TRY 256.42 at the end of this 3-month period.
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BURVA.IS Signals & Forecast
There are few to no technical positive signals at the moment. The Burçelik Vana Sanayi ve Ticaret A.S. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at TRY 159.56 and TRY 156.53. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen -19.87%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Burçelik Vana Sanayi ve Ticaret A.S. stock
Burçelik Vana Sanayi ve Ticaret A.S. finds support from accumulated volume at TRY 149.70 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 7.50 between high and low, or 4.98%. For the last week, the stock has had daily average volatility of 5.81%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BURVA.IS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Burçelik Vana Sanayi ve Ticaret A.S. to open at TRY 153.23, and during the day (based on 14 day Average True Range), to move between TRY 139.01 and TRY 163.39, which gives a possible trading interval of +/-TRY 12.19 (+/-8.07%) up or down from last closing price. If Burçelik Vana Sanayi ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 16.13% 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 149.70 (0.99%) than the resistance at TRY 153.10 (1.26%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Burçelik Vana Sanayi ve Ticaret A.S. stock A Buy?
The Burçelik Vana Sanayi ve Ticaret A.S. stock holds several negative signals and despite the positive trend, we believe Burçelik Vana Sanayi ve Ticaret A.S. will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Sell candidate.
Current score: -3.775 Sell Candidate Downgraded
Predicted Opening Price for Burçelik Vana Sanayi ve Ticaret A.S. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| TRY 153.23 ( 1.34%) | TRY 151.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BURVA.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 160.73 | 6.31 % | |
| R2 | 157.87 | 4.41 % | ||
| R1 | 156.10 | 3.24 % | ||
| Current price: | 151.20 | |||
| Support | S1 | 150.37 | -0.550 % | |
| S2 | 148.60 | -1.72 % | ||
| S3 | 145.73 | -3.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 188.70 | 24.80 % | |
| R2 | 167.70 | 10.91 % | ||
| R1 | 153.10 | 1.26 % | ||
| Current price | 151.20 | |||
| Support | S1 | 149.70 | -0.99% | |
| S2 | 148.20 | -1.98% | ||
| S3 | 127.60 | -15.61% |
FAQ
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