Çan2 Termik A.S. Stock Forecast
Çan2 Termik A.S. stock price ended at TRY 18.72 on Friday, after gaining 1.46%.
(Updated on May 03, 2024)
The Çan2 Termik A.S. stock price gained 1.46% on the last trading day (Friday, 3rd May 2024), rising from TRY 18.45 to TRY 18.72. During the last trading day the stock fluctuated 1.85% from a day low at TRY 18.38 to a day high of TRY 18.72. The price has risen in 6 of the last 10 days but is still down by -0.27% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 27 million shares were bought and sold for approximately TRY 503.12 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Çan2 Termik A.S. stock with a 90% probability to be traded between TRY 16.55 and TRY 20.05 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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CANTE.IS Signals & Forecast
The Çan2 Termik A.S. 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 18.62 and TRY 18.10. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 2.41%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Friday, April 05, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Friday, April 05, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Çan2 Termik A.S. stock
Çan2 Termik A.S. finds support from accumulated volume at TRY 18.45 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 0.340 between high and low, or 1.85%. For the last week, the stock has had daily average volatility of 2.03%.
Our recommended stop-loss: TRY 17.77 (-5.07%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (CANTE.IS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Çan2 Termik A.S. to open at TRY 18.61, and during the day (based on 14 day Average True Range), to move between TRY 17.93 and TRY 19.51, which gives a possible trading interval of +/-TRY 0.786 (+/-4.20%) up or down from last closing price. If Çan2 Termik A.S. takes out the full calculated possible swing range there will be an estimated 8.39% 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 18.45 (1.44%) than the resistance at TRY 19.13 (2.19%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Çan2 Termik A.S. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Çan2 Termik A.S. stock to perform well in the short-term period.
Current score: 1.660 Buy Candidate Unchanged
Predicted Opening Price for Çan2 Termik A.S. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| TRY 18.61 ( 0.605%) | TRY 18.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CANTE.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.95 | 1.21 % | |
| R2 | 18.82 | 0.517 % | ||
| R1 | 18.74 | 0.0884 % | ||
| Current price: | 18.72 | |||
| Support | S1 | 18.48 | -1.30 % | |
| S2 | 18.40 | -1.73 % | ||
| S3 | 18.27 | -2.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.30 | 8.44 % | |
| R2 | 19.41 | 3.69 % | ||
| R1 | 19.13 | 2.19 % | ||
| Current price | 18.72 | |||
| Support | S1 | 18.45 | -1.44% | |
| S2 | 17.88 | -4.49% | ||
| S3 | 17.75 | -5.18% |
FAQ
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