Cimbeton Hazir Beton ve Prefabrik Yapi 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
Is Cimbeton Hazir Beton ve Prefabrik Yapi stock still a buy after falling -5.94% on Monday?
(Updated on May 13, 2024)
The Cimbeton Hazir Beton ve Prefabrik Yapi stock price fell by -5.94% on the last day (Monday, 13th May 2024) from TRY 3,620.00 to TRY 3,405.00. During the last trading day the stock fluctuated 9.03% from a day low at TRY 3,405.00 to a day high of TRY 3,712.50. The price has fallen in 6 of the last 10 days and is down by -14.12% 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 -52 thousand shares and in total, 34 thousand shares were bought and sold for approximately TRY 117.19 million.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at TRY 3,228.58 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Cimbeton Hazir Beton ve Prefabrik Yapi stock with a 90% probability to be traded between TRY 3,239.60 and TRY 4,739.17 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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CMBTN.IS Signals & Forecast
There are few to no technical positive signals at the moment. The Cimbeton Hazir Beton ve Prefabrik Yapi 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 3,690.36 and TRY 4,088.71. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 26, 2024, and so far it has fallen -27.78%. 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 Cimbeton Hazir Beton ve Prefabrik Yapi stock
Cimbeton Hazir Beton ve Prefabrik Yapi finds support from accumulated volume at TRY 3,300.00 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 307.50 between high and low, or 9.03%. For the last week, the stock has had daily average volatility of 7.25%.
Cimbeton Hazir Beton ve Prefabrik Yapi is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CMBTN.IS) For The Upcoming Trading Day Of Tuesday 14th
For the upcoming trading day on Tuesday, 14th we expect Cimbeton Hazir Beton ve Prefabrik Yapi Elemanlari Sanayi ve Ticaret A.S. to open at TRY 3,507.50, and during the day (based on 14 day Average True Range), to move between TRY 3,157.47 and TRY 3,652.53, which gives a possible trading interval of +/-TRY 247.53 (+/-7.27%) up or down from last closing price. If Cimbeton Hazir Beton ve Prefabrik Yapi Elemanlari Sanayi ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 14.54% 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 3,300.00 (3.08%) than the resistance at TRY 3,850.00 (13.07%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cimbeton Hazir Beton ve Prefabrik Yapi Elemanlari Sanayi ve Ticaret A.S. stock A Buy?
Cimbeton Hazir Beton ve Prefabrik Yapi holds several negative signals and is within a very wide and falling trend, so we believe 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: -1.636 Sell Candidate Downgraded
Predicted Opening Price for Cimbeton Hazir Beton ve Prefabrik Yapi Elemanlari Sanayi ve Ticaret A.S. of Tuesday, May 14, 2024
| Fair opening price May 14, 2024 | Current price |
|---|---|
| TRY 3,507.50 ( 3.01%) | TRY 3,405.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CMBTN.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,815.00 | 12.04 % | |
| R2 | 3,697.54 | 8.59 % | ||
| R1 | 3,624.97 | 6.46 % | ||
| Current price: | 3,405.00 | |||
| Support | S1 | 3,390.04 | -0.440 % | |
| S2 | 3,317.47 | -2.57 % | ||
| S3 | 3,200.00 | -6.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,210.00 | 23.64 % | |
| R2 | 3,990.00 | 17.18 % | ||
| R1 | 3,850.00 | 13.07 % | ||
| Current price | 3,405.00 | |||
| Support | S1 | 3,300.00 | -3.08% | |
| S2 | 3,212.50 | -5.65% | ||
| S3 | 0 | . |
FAQ
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