Cuhadaroglu Metal Sanayi ve Pazarlama Stock Forecast
Cuhadaroglu Metal Sanayi ve Pazarlama stock price up 0.468% on Thursday
(Updated on Apr 18, 2024)
The Cuhadaroglu Metal Sanayi ve Pazarlama stock price gained 0.468% on the last trading day (Thursday, 18th Apr 2024), rising from TRY 25.64 to TRY 25.76. During the last trading day the stock fluctuated 2.94% from a day low at TRY 25.16 to a day high of TRY 25.90. The price has risen in 7 of the last 10 days and is up by 1.18% over the past 2 weeks. Volume fell on the last day by -131 thousand shares and in total, 1 million shares were bought and sold for approximately TRY 27.71 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 lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at TRY 24.51 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 13.27% during the next 3 months and, with a 90% probability hold a price between TRY 27.76 and TRY 37.49 at the end of this 3-month period.
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CUSAN.IS Signals & Forecast
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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Cuhadaroglu Metal Sanayi ve Pazarlama 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 25.85 and TRY 26.10. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, February 28, 2024, and so far it has fallen -16.90%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Cuhadaroglu Metal Sanayi ve Pazarlama stock
Cuhadaroglu Metal Sanayi ve Pazarlama finds support from accumulated volume at TRY 25.60 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 0.740 between high and low, or 2.94%. For the last week, the stock has had daily average volatility of 5.67%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CUSAN.IS) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Cuhadaroglu Metal Sanayi ve Pazarlama A.S. to open at TRY 25.61, and during the day (based on 14 day Average True Range), to move between TRY 24.28 and TRY 27.24, which gives a possible trading interval of +/-TRY 1.48 (+/-5.73%) up or down from last closing price. If Cuhadaroglu Metal Sanayi ve Pazarlama A.S. takes out the full calculated possible swing range there will be an estimated 11.45% 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 25.60 (0.62%) than the resistance at TRY 26.90 (4.43%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cuhadaroglu Metal Sanayi ve Pazarlama A.S. stock A Buy?
The Cuhadaroglu Metal Sanayi ve Pazarlama stock holds several negative signals and despite the positive trend, we believe Cuhadaroglu Metal Sanayi ve Pazarlama will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.073 Sell Candidate Unchanged
Predicted Opening Price for Cuhadaroglu Metal Sanayi ve Pazarlama A.S. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| TRY 25.61 ( 0.595%) | TRY 25.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CUSAN.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.35 | 2.28 % | |
| R2 | 26.06 | 1.18 % | ||
| R1 | 25.89 | 0.502 % | ||
| Current price: | 25.76 | |||
| Support | S1 | 25.32 | -1.69 % | |
| S2 | 25.15 | -2.37 % | ||
| S3 | 24.87 | -3.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.00 | 20.34 % | |
| R2 | 30.20 | 17.24 % | ||
| R1 | 26.90 | 4.43 % | ||
| Current price | 25.76 | |||
| Support | S1 | 25.60 | -0.621% | |
| S2 | 24.70 | -4.11% | ||
| S3 | 24.08 | -6.52% |
FAQ
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