Demisas Döküm Emaye Mamülleri Sanayi Stock Forecast
Stronger technical forecast for Demisas Döküm Emaye Mamülleri Sanayi stock price after Tuesday trading.
(Updated on Apr 30, 2024)
The Demisas Döküm Emaye Mamülleri Sanayi stock price gained 2.74% on the last trading day (Tuesday, 30th Apr 2024), rising from TRY 6.93 to TRY 7.12. During the last trading day the stock fluctuated 7.79% from a day low at TRY 6.80 to a day high of TRY 7.33. The price has been going up and down for this period, and there has been a 1.71% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 717 thousand more shares were traded than the day before. In total, 7 million shares were bought and sold for approximately TRY 50.51 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 -29.01% during the next 3 months and, with a 90% probability hold a price between TRY 3.22 and TRY 6.05 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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DMSAS.IS Signals & Forecast
The Demisas Döküm Emaye Mamülleri Sanayi 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 6.99 and TRY 6.32. 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). 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. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -0.697%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Demisas Döküm Emaye Mamülleri Sanayi stock
Demisas Döküm Emaye Mamülleri Sanayi finds support from accumulated volume at TRY 7.00 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 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 0.530 between high and low, or 7.79%. For the last week, the stock has had daily average volatility of 5.95%.
Our recommended stop-loss: TRY 6.85 (-3.84%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (DMSAS.IS) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Demisas Döküm Emaye Mamülleri Sanayi Anonim Sirketi to open at TRY 7.08, and during the day (based on 14 day Average True Range), to move between TRY 6.68 and TRY 7.56, which gives a possible trading interval of +/-TRY 0.441 (+/-6.19%) up or down from last closing price. If Demisas Döküm Emaye Mamülleri Sanayi Anonim Sirketi takes out the full calculated possible swing range there will be an estimated 12.39% 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 7.17 (0.70%) than the support at TRY 7.00 (1.69%), 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 Demisas Döküm Emaye Mamülleri Sanayi Anonim Sirketi 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.521 Buy Candidate Upgraded
Predicted Opening Price for Demisas Döküm Emaye Mamülleri Sanayi Anonim Sirketi of Thursday, May 2, 2024
Fair opening price May 2, 2024 | Current price |
---|---|
TRY 7.08 ( 0.515%) | TRY 7.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DMSAS.IS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.61 | 6.93 % | |
R2 | 7.41 | 4.09 % | ||
R1 | 7.29 | 2.33 % | ||
Current price: | 7.12 | |||
Support | S1 | 6.88 | -3.36 % | |
S2 | 6.76 | -5.12 % | ||
S3 | 6.55 | -7.96 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 8.86 | 24.44 % | |
R2 | 7.27 | 2.11 % | ||
R1 | 7.17 | 0.702 % | ||
Current price | 7.12 | |||
Support | S1 | 7.00 | -1.69% | |
S2 | 6.55 | -8.01% | ||
S3 | 6.35 | -10.81% |
FAQ
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