CVK Maden Isletmeleri Sanayi ve Ticaret Stock Forecast
Volatile ride for CVK Maden Isletmeleri Sanayi ve Ticaret stock price on Friday moving between TRY 509.50 and TRY 590.50
(Updated on May 17, 2024)
The CVK Maden Isletmeleri Sanayi ve Ticaret stock price fell by -4.33% on the last day (Friday, 17th May 2024) from TRY 566.00 to TRY 541.50. During the last trading day the stock fluctuated 15.90% from a day low at TRY 509.50 to a day high of TRY 590.50. The price has risen in 7 of the last 10 days and is up by 14.6% over the past 2 weeks. Volume has increased on the last day by 1 million 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, 2 million shares were bought and sold for approximately TRY 1.28 billion.
The stock lies in the upper part of a very wide and strong 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 567.56 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 19.33% during the next 3 months and, with a 90% probability hold a price between TRY 510.80 and TRY 677.25 at the end of this 3-month period.
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CVKMD.IS Signals & Forecast
The CVK Maden Isletmeleri Sanayi ve Ticaret stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at TRY 527.18 and TRY 454.26. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -4.33%. Further fall is indicated until a new bottom pivot has been found. 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 CVK Maden Isletmeleri Sanayi ve Ticaret stock
On the downside, the stock finds support just below today's level from accumulated volume at TRY 486.50 and TRY 472.50. 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, CVK Maden Isletmeleri Sanayi ve Ticaret finds support just below today's level at TRY 486.50. If this is broken, then the next support from accumulated volume will be at TRY 472.50 and TRY 470.00.
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 81.00 between high and low, or 15.90%. For the last week, the stock has had daily average volatility of 7.90%.
Our recommended stop-loss: TRY 527.10 (-2.66%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 20 days ago.)
Trading Expectations (CVKMD.IS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect CVK Maden Isletmeleri Sanayi ve Ticaret Anonim Sirketi to open at TRY 547.17, and during the day (based on 14 day Average True Range), to move between TRY 508.78 and TRY 574.22, which gives a possible trading interval of +/-TRY 32.72 (+/-6.04%) up or down from last closing price. If CVK Maden Isletmeleri Sanayi ve Ticaret Anonim Sirketi takes out the full calculated possible swing range there will be an estimated 12.09% 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 559.00 (3.23%) than the support at TRY 486.50 (10.16%), 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 CVK Maden Isletmeleri Sanayi ve Ticaret Anonim Sirketi stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for CVK Maden Isletmeleri Sanayi ve Ticaret stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.375 Buy Candidate Upgraded
Predicted Opening Price for CVK Maden Isletmeleri Sanayi ve Ticaret Anonim Sirketi of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| TRY 547.17 ( 1.05%) | TRY 541.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CVKMD.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 628.17 | 16.00 % | |
| R2 | 597.22 | 10.29 % | ||
| R1 | 578.11 | 6.76 % | ||
| Current price: | 541.50 | |||
| Support | S1 | 516.22 | -4.67 % | |
| S2 | 497.11 | -8.20 % | ||
| S3 | 466.17 | -13.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 566.00 | 4.52 % | ||
| R1 | 559.00 | 3.23 % | ||
| Current price | 541.50 | |||
| Support | S1 | 486.50 | -10.16% | |
| S2 | 472.50 | -12.74% | ||
| S3 | 470.00 | -13.20% |
FAQ
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