Çelik Halat ve Tel Sanayii A.S. Stock Forecast
Red day on Tuesday for Çelik Halat ve Tel Sanayii A.S. stock after losing 0.180%
(Updated on Apr 30, 2024)
The Çelik Halat ve Tel Sanayii A.S. stock price fell by -0.180% on the last day (Tuesday, 30th Apr 2024) from TRY 33.36 to TRY 33.30. During the last trading day the stock fluctuated 2.75% from a day low at TRY 32.78 to a day high of TRY 33.68. The price has fallen in 8 of the last 10 days and is down by -27.13% for this period. Volume has increased on the last day by 113 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 711 thousand shares were bought and sold for approximately TRY 23.68 million.
Given the current short-term trend, the stock is expected to rise 27.54% during the next 3 months and, with a 90% probability hold a price between TRY 42.47 and TRY 60.95 at the end of this 3-month period.
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CELHA.IS Signals & Forecast
There are few to no technical positive signals at the moment. The Çelik Halat ve Tel Sanayii A.S. 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 33.91 and TRY 39.10. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 16, 2024, and so far it has fallen -27.98%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Çelik Halat ve Tel Sanayii A.S. stock
On the downside, the stock finds support just below today's level from accumulated volume at TRY 31.44 and TRY 30.04. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Çelik Halat ve Tel Sanayii A.S. finds support just below today's level at TRY 31.44. If this is broken, then the next support from accumulated volume will be at TRY 30.04 and TRY 26.68.
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 0.90 between high and low, or 2.75%. For the last week, the stock has had daily average volatility of 3.12%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CELHA.IS) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Çelik Halat ve Tel Sanayii A.S. to open at TRY 33.25, and during the day (based on 14 day Average True Range), to move between TRY 31.00 and TRY 35.60, which gives a possible trading interval of +/-TRY 2.30 (+/-6.89%) up or down from last closing price. If Çelik Halat ve Tel Sanayii A.S. takes out the full calculated possible swing range there will be an estimated 13.79% 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 33.80 (1.50%) than the support at TRY 31.44 (5.59%), 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 Çelik Halat ve Tel Sanayii A.S. stock A Buy?
The Çelik Halat ve Tel Sanayii A.S. stock holds several negative signals and despite the positive trend, we believe Çelik Halat ve Tel Sanayii A.S. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.102 Sell Candidate Unchanged
Predicted Opening Price for Çelik Halat ve Tel Sanayii A.S. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| TRY 33.25 ( 0.140%) | TRY 33.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CELHA.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.15 | 2.56 % | |
| R2 | 33.81 | 1.53 % | ||
| R1 | 33.60 | 0.89 % | ||
| Current price: | 33.30 | |||
| Support | S1 | 32.91 | -1.17 % | |
| S2 | 32.70 | -1.81 % | ||
| S3 | 32.35 | -2.84 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 37.46 | 12.49 % | |
| R2 | 35.34 | 6.13 % | ||
| R1 | 33.80 | 1.50 % | ||
| Current price | 33.30 | |||
| Support | S1 | 31.44 | -5.59% | |
| S2 | 30.04 | -9.79% | ||
| S3 | 26.68 | -19.88% |
FAQ
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