Çemtas Çelik Makina Sanayi ve Ticaret 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
On Thursday, Çemtas Çelik Makina Sanayi ve Ticaret stock price gained an impressive 6.92%
(Updated on Jun 06, 2024)
The Çemtas Çelik Makina Sanayi ve Ticaret stock price gained 6.92% on the last trading day (Thursday, 6th Jun 2024), rising from TRY 11.27 to TRY 12.05. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 8.84% from a day low at TRY 11.20 to a day high of TRY 12.19. The price has fallen in 6 of the last 10 days but is still up by 10.55% over the past 2 weeks. Volume fell on the last day by -7 million shares and in total, 28 million shares were bought and sold for approximately TRY 338.69 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 upper part of a very wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at TRY 12.05 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 7.43% during the next 3 months and, with a 90% probability hold a price between TRY 10.17 and TRY 12.95 at the end of this 3-month period.
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CEMTS.IS Signals & Forecast
The Çemtas Çelik Makina Sanayi ve Ticaret 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 10.65 and TRY 10.67. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 03, 2024, and so far it has risen 35.39%. 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 Çemtas Çelik Makina Sanayi ve Ticaret stock
On the downside, the stock finds support just below today's level from accumulated volume at TRY 11.27 and TRY 11.20. 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, Çemtas Çelik Makina Sanayi ve Ticaret finds support just below today's level at TRY 11.27. If this is broken, then the next support from accumulated volume will be at TRY 11.20 and TRY 10.85.
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 0.99 between high and low, or 8.84%. For the last week, the stock has had daily average volatility of 6.63%.
Our recommended stop-loss: TRY 11.66 (-3.24%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 65 days ago.)
Trading Expectations (CEMTS.IS) For The Upcoming Trading Day Of Friday 7th
For the upcoming trading day on Friday, 7th we expect Çemtas Çelik Makina Sanayi ve Ticaret A.S. to open at TRY 11.81, and during the day (based on 14 day Average True Range), to move between TRY 11.52 and TRY 12.58, which gives a possible trading interval of +/-TRY 0.534 (+/-4.43%) up or down from last closing price. If Çemtas Çelik Makina Sanayi ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 8.86% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ TRY 11.27, some TRY 0.780 (6.47%) from the current price of TRY 12.05, our system finds the risk reward attractive.
Is Çemtas Çelik Makina Sanayi ve Ticaret A.S. stock A Buy?
Çemtas Çelik Makina Sanayi ve Ticaret 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. 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 Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Çemtas Çelik Makina Sanayi ve Ticaret A.S. of Friday, June 7, 2024
| Fair opening price June 7, 2024 | Current price |
|---|---|
| TRY 11.81 ( 1.96%) | TRY 12.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CEMTS.IS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.80 | 6.25% |
| R2 | 12.43 | 3.11% |
| R1 | 12.19 | 1.17% |
| Price | 12.05 | |
| S1 | 11.44 | -5.10% |
| S2 | 11.20 | -7.04% |
| S3 | 10.82 | -10.18% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 12.05 | |
| S1 | 11.27 | -6.47% |
| S2 | 11.20 | -7.05% |
| S3 | 10.85 | -9.96% |
FAQ
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