Çimsa Çimento Sanayi ve Ticaret Anonim Stock Forecast

Çimsa Çimento Sanayi ve Ticaret Anonim stock downgraded from Hold/Accumulate to Sell Candidate after Monday trading session.
(Updated on Apr 15, 2024)

CIMSA.IS Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, April 03, 2024, and so far it has risen 6.82%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Çimsa Çimento Sanayi ve Ticaret Anonim stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at TRY 33.05. On a fall, the stock will find some support from the short-term average at TRY 31.11. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 Çimsa Çimento Sanayi ve Ticaret Anonim stock

Çimsa Çimento Sanayi ve Ticaret Anonim finds support from accumulated volume at TRY 31.30 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 1.12 between high and low, or 3.56%. For the last week, the stock has had daily average volatility of 3.46%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (CIMSA.IS) For The Upcoming Trading Day Of Tuesday 16th

For the upcoming trading day on Tuesday, 16th we expect Çimsa Çimento Sanayi ve Ticaret Anonim Sirketi to open at TRY 31.87, and during the day (based on 14 day Average True Range), to move between TRY 30.39 and TRY 32.85, which gives a possible trading interval of +/-TRY 1.23 (+/-3.88%) up or down from last closing price. If Çimsa Çimento Sanayi ve Ticaret Anonim Sirketi takes out the full calculated possible swing range there will be an estimated 7.76% 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 31.30 (1.01%) than the resistance at TRY 35.70 (12.90%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Çimsa Çimento Sanayi ve Ticaret Anonim Sirketi stock A Buy?

Çimsa Çimento Sanayi ve Ticaret Anonim holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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 Hold/Accumulate to a Sell candidate.

Current score: -2.403 Sell Candidate Downgraded

Predicted Opening Price for Çimsa Çimento Sanayi ve Ticaret Anonim Sirketi of Tuesday, April 16, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.