Dofer Yapi Malzemeleri Sanayi ve Ticaret Stock Forecast
Red day on Friday for Dofer Yapi Malzemeleri Sanayi ve Ticaret stock after losing 1.73%
(Updated on May 10, 2024)
The Dofer Yapi Malzemeleri Sanayi ve Ticaret stock price fell by -1.73% on the last day (Friday, 10th May 2024) from TRY 44.04 to TRY 43.28. During the last trading day the stock fluctuated 4.65% from a day low at TRY 42.18 to a day high of TRY 44.14. The price has risen in 6 of the last 10 days and is up by 14.56% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -253 thousand shares and in total, 2 million shares were bought and sold for approximately TRY 66.00 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at TRY 44.31 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -24.46% during the next 3 months and, with a 90% probability hold a price between TRY 23.40 and TRY 33.47 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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DOFER.IS Signals & Forecast
The Dofer Yapi Malzemeleri Sanayi ve Ticaret 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 43.39. On a fall, the stock will find some support from the long-term average at approximately TRY 40.51. 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. A buy signal was issued from a pivot bottom point on Wednesday, April 03, 2024, and so far it has risen 19.16%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 Dofer Yapi Malzemeleri Sanayi ve Ticaret stock
Dofer Yapi Malzemeleri Sanayi ve Ticaret finds support from accumulated volume at TRY 41.58 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 1.96 between high and low, or 4.65%. For the last week, the stock has had daily average volatility of 7.41%.
Our recommended stop-loss: TRY 41.17 (-4.87%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (DOFER.IS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Dofer Yapi Malzemeleri Sanayi ve Ticaret A.S. to open at TRY 43.20, and during the day (based on 14 day Average True Range), to move between TRY 40.47 and TRY 46.09, which gives a possible trading interval of +/-TRY 2.81 (+/-6.49%) up or down from last closing price. If Dofer Yapi Malzemeleri Sanayi ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 12.99% 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 43.78 (1.16%) than the support at TRY 41.58 (3.93%), 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 Dofer Yapi Malzemeleri Sanayi ve Ticaret 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: 2.492 Buy Candidate Unchanged
Predicted Opening Price for Dofer Yapi Malzemeleri Sanayi ve Ticaret A.S. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| TRY 43.20 ( 0.185%) | TRY 43.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DOFER.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 45.16 | 4.34 % | |
| R2 | 44.41 | 2.61 % | ||
| R1 | 43.95 | 1.55 % | ||
| Current price: | 43.28 | |||
| Support | S1 | 42.45 | -1.91 % | |
| S2 | 41.99 | -2.98 % | ||
| S3 | 41.24 | -4.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 49.00 | 13.22 % | |
| R2 | 45.02 | 4.02 % | ||
| R1 | 43.78 | 1.16 % | ||
| Current price | 43.28 | |||
| Support | S1 | 41.58 | -3.93% | |
| S2 | 41.24 | -4.71% | ||
| S3 | 40.80 | -5.73% |
FAQ
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