Derimod Konfeksiyon Ayakkabi Deri Sanayi Stock Forecast

Derimod Konfeksiyon Ayakkabi Deri Sanayi stock price fell more than -5.55% Thursday closing at TRY 51.95
(Updated on May 09, 2024)

DERIM.IS Signals & Forecast

The Derimod Konfeksiyon Ayakkabi Deri Sanayi stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately TRY 52.91. On a fall, the stock will find some support from the long-term average at approximately TRY 40.23. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Tuesday, May 07, 2024, and so far it has fallen -11.95%. Further fall is indicated until a new bottom pivot has been found. 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 Derimod Konfeksiyon Ayakkabi Deri Sanayi stock

Derimod Konfeksiyon Ayakkabi Deri Sanayi finds support from accumulated volume at TRY 51.80 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved TRY 3.70 between high and low, or 7.21%. For the last week, the stock has had daily average volatility of 9.79%.

Our recommended stop-loss: TRY 48.94 (-5.80%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (DERIM.IS) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect Derimod Konfeksiyon Ayakkabi Deri Sanayi ve Ticaret A.S. to open at TRY 52.75, and during the day (based on 14 day Average True Range), to move between TRY 47.39 and TRY 56.51, which gives a possible trading interval of +/-TRY 4.56 (+/-8.78%) up or down from last closing price. If Derimod Konfeksiyon Ayakkabi Deri Sanayi ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 17.55% 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 51.80 (0.29%) than the resistance at TRY 54.25 (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 Derimod Konfeksiyon Ayakkabi Deri Sanayi ve Ticaret A.S. 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 Derimod Konfeksiyon Ayakkabi Deri Sanayi stock to perform well in the short-term.

Current score: 1.166 Buy Candidate Unchanged

Predicted Opening Price for Derimod Konfeksiyon Ayakkabi Deri Sanayi ve Ticaret A.S. of Friday, May 10, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.