Denge Yatirim Holding A.S. Stock Forecast
A very strong day for Denge Yatirim Holding A.S. stock price on Wednesday
(Updated on Apr 24, 2024)
The Denge Yatirim Holding A.S. stock price gained 5.14% on the last trading day (Wednesday, 24th Apr 2024), rising from TRY 2.53 to TRY 2.66. During the last trading day the stock fluctuated 6.69% from a day low at TRY 2.54 to a day high of TRY 2.71. The price has risen in 6 of the last 10 days and is up by 3.5% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 11 million more shares were traded than the day before. In total, 32 million shares were bought and sold for approximately TRY 85.36 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Denge Yatirim Holding A.S. stock with a 90% probability to be traded between TRY 2.43 and TRY 3.31 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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DENGE.IS Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 7.26%. 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 is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Denge Yatirim Holding A.S. 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 2.89. On a fall, the stock will find some support from the short-term average at TRY 2.63. 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.
Support, Risk & Stop-loss for Denge Yatirim Holding A.S. stock
Denge Yatirim Holding A.S. finds support from accumulated volume at TRY 2.59 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 0.170 between high and low, or 6.69%. For the last week, the stock has had daily average volatility of 3.82%.
Our recommended stop-loss: TRY 2.55 (-4.16%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (DENGE.IS) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Denge Yatirim Holding A.S. to open at TRY 2.64, and during the day (based on 14 day Average True Range), to move between TRY 2.50 and TRY 2.82, which gives a possible trading interval of +/-TRY 0.163 (+/-6.12%) up or down from last closing price. If Denge Yatirim Holding A.S. takes out the full calculated possible swing range there will be an estimated 12.23% 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 2.59 (2.63%) than the resistance at TRY 2.81 (5.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Denge Yatirim Holding A.S. stock A Buy?
Denge Yatirim Holding A.S. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.306 Hold/Accumulate Upgraded
Predicted Opening Price for Denge Yatirim Holding A.S. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| TRY 2.64 ( 0.88%) | TRY 2.66 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DENGE.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.81 | 5.51 % | |
| R2 | 2.74 | 3.07 % | ||
| R1 | 2.70 | 1.56 % | ||
| Current price: | 2.66 | |||
| Support | S1 | 2.57 | -3.32 % | |
| S2 | 2.53 | -4.83 % | ||
| S3 | 2.47 | -7.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.99 | 12.41 % | |
| R2 | 2.90 | 9.02 % | ||
| R1 | 2.81 | 5.64 % | ||
| Current price | 2.66 | |||
| Support | S1 | 2.59 | -2.63% | |
| S2 | 2.57 | -3.38% | ||
| S3 | 2.53 | -4.89% |
FAQ
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