Derimod Konfeksiyon Ayakkabi Deri Sanayi Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Derimod Konfeksiyon Ayakkabi Deri Sanayi stock price up 0.413% on Friday
(Updated on May 31, 2024)
The Derimod Konfeksiyon Ayakkabi Deri Sanayi stock price gained 0.413% on the last trading day (Friday, 31st May 2024), rising from TRY 48.40 to TRY 48.60. During the last trading day the stock fluctuated 7.02% from a day low at TRY 47.00 to a day high of TRY 50.30. The price has been going up and down for this period, and there has been a -2.1% loss for the last 2 weeks. Volume fell on the last day by -12 thousand shares and in total, 322 thousand shares were bought and sold for approximately TRY 15.66 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 47.77 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 79.80% during the next 3 months and, with a 90% probability hold a price between TRY 85.88 and TRY 122.69 at the end of this 3-month period.
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DERIM.IS Signals & Forecast
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 Derimod Konfeksiyon Ayakkabi Deri Sanayi stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at TRY 49.51 and TRY 48.96. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -17.63%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Derimod Konfeksiyon Ayakkabi Deri Sanayi stock
Derimod Konfeksiyon Ayakkabi Deri Sanayi finds support from accumulated volume at TRY 47.50 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 3.30 between high and low, or 7.02%. For the last week, the stock has had daily average volatility of 6.25%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DERIM.IS) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Derimod Konfeksiyon Ayakkabi Deri Sanayi ve Ticaret A.S. to open at TRY 48.63, and during the day (based on 14 day Average True Range), to move between TRY 44.77 and TRY 52.43, which gives a possible trading interval of +/-TRY 3.83 (+/-7.87%) 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 15.74% 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 47.50 (2.26%) than the resistance at TRY 51.30 (5.56%), 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?
The Derimod Konfeksiyon Ayakkabi Deri Sanayi stock holds several negative signals and despite the positive trend, we believe Derimod Konfeksiyon Ayakkabi Deri Sanayi will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.744 Sell Candidate Unchanged
Predicted Opening Price for Derimod Konfeksiyon Ayakkabi Deri Sanayi ve Ticaret A.S. of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| TRY 48.63 ( 0.0686%) | TRY 48.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DERIM.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 51.93 | 6.86 % | |
| R2 | 50.67 | 4.26 % | ||
| R1 | 49.89 | 2.66 % | ||
| Current price: | 48.60 | |||
| Support | S1 | 47.37 | -2.53 % | |
| S2 | 46.59 | -4.13 % | ||
| S3 | 45.33 | -6.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 56.95 | 17.18 % | |
| R2 | 53.75 | 10.60 % | ||
| R1 | 51.30 | 5.56 % | ||
| Current price | 48.60 | |||
| Support | S1 | 47.50 | -2.26% | |
| S2 | 46.42 | -4.49% | ||
| S3 | 45.02 | -7.37% |
FAQ
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