Denge Yatirim Holding A.S. Stock Forecast
Red day on Friday for Denge Yatirim Holding A.S.
(Updated on May 03, 2024)
The Denge Yatirim Holding A.S. stock price fell by -1.64% on the last day (Friday, 3rd May 2024) from TRY 3.04 to TRY 2.99. During the last trading day the stock fluctuated 6.06% from a day low at TRY 2.97 to a day high of TRY 3.15. The price has risen in 6 of the last 10 days and is up by 16.34% over the past 2 weeks. Volume has increased on the last day by 281 thousand 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, 28 million shares were bought and sold for approximately TRY 83.05 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -7.53% during the next 3 months and, with a 90% probability hold a price between TRY 2.26 and TRY 2.99 at the end of this 3-month period.
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DENGE.IS Signals & Forecast
The Denge Yatirim Holding A.S. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at TRY 2.82 and TRY 2.83. 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 02, 2024, and so far it has fallen -1.64%. 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 Denge Yatirim Holding A.S. stock
Denge Yatirim Holding A.S. finds support from accumulated volume at TRY 2.92 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 0.180 between high and low, or 6.06%. For the last week, the stock has had daily average volatility of 7.17%.
Our recommended stop-loss: TRY 2.88 (-3.55%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (DENGE.IS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Denge Yatirim Holding A.S. to open at TRY 3.04, and during the day (based on 14 day Average True Range), to move between TRY 2.82 and TRY 3.16, which gives a possible trading interval of +/-TRY 0.175 (+/-5.84%) 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 11.67% 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 3.02 (1.00%) than the support at TRY 2.92 (2.34%), 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 Denge Yatirim Holding A.S. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.773 Buy Candidate Unchanged
Predicted Opening Price for Denge Yatirim Holding A.S. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| TRY 3.04 ( 1.56%) | TRY 2.99 |
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 | 3.22 | 7.58 % | |
| R2 | 3.15 | 5.28 % | ||
| R1 | 3.11 | 3.86 % | ||
| Current price: | 2.99 | |||
| Support | S1 | 2.97 | -0.739 % | |
| S2 | 2.93 | -2.16 % | ||
| S3 | 2.86 | -4.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.41 | 14.05 % | |
| R2 | 3.38 | 13.04 % | ||
| R1 | 3.02 | 1.00 % | ||
| Current price | 2.99 | |||
| Support | S1 | 2.92 | -2.34% | |
| S2 | 2.90 | -3.01% | ||
| S3 | 2.88 | -3.68% |
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