Edip Gayrimenkul Yatirim Sanayi ve Stock Forecast
Edip Gayrimenkul Yatirim Sanayi ve stock price up more than 9.94% on Wednesday
(Updated on May 08, 2024)
The Edip Gayrimenkul Yatirim Sanayi ve stock price gained 9.94% on the last trading day (Wednesday, 8th May 2024), rising from TRY 26.56 to TRY 29.20. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 6.34% from a day low at TRY 27.46 to a day high of TRY 29.20. The price has risen in 7 of the last 10 days and is up by 35.19% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 6 million shares were bought and sold for approximately TRY 182.22 million.
The stock lies in the upper part of a very wide and strong rising 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 29.42 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 24.35% during the next 3 months and, with a 90% probability hold a price between TRY 22.41 and TRY 36.58 at the end of this 3-month period.
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EDIP.IS Signals & Forecast
Mostly positive signals in the chart today. The Edip Gayrimenkul Yatirim Sanayi ve 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 25.69 and TRY 19.38. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 03, 2024, and so far it has risen 25.11%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Edip Gayrimenkul Yatirim Sanayi ve stock
Edip Gayrimenkul Yatirim Sanayi ve finds support from accumulated volume at TRY 28.72 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 1.74 between high and low, or 6.34%. For the last week, the stock has had daily average volatility of 9.72%.
Our recommended stop-loss: TRY 28.17 (-3.52%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (EDIP.IS) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Edip Gayrimenkul Yatirim Sanayi ve Ticaret A.S. to open at TRY 28.62, and during the day (based on 14 day Average True Range), to move between TRY 27.24 and TRY 31.16, which gives a possible trading interval of +/-TRY 1.96 (+/-6.72%) up or down from last closing price. If Edip Gayrimenkul Yatirim Sanayi ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 13.44% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ TRY 28.72, some TRY 0.480 (1.64%) from the current price of TRY 29.20, our system finds the risk reward attractive.
Is Edip Gayrimenkul Yatirim Sanayi ve Ticaret A.S. stock A Buy?
Edip Gayrimenkul Yatirim Sanayi ve holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.241 Strong Buy Candidate Upgraded
Predicted Opening Price for Edip Gayrimenkul Yatirim Sanayi ve Ticaret A.S. of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| TRY 28.62 ( 1.99%) | TRY 29.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EDIP.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.36 | 3.97 % | |
| R2 | 29.70 | 1.70 % | ||
| R1 | 29.28 | 0.290 % | ||
| Current price: | 29.20 | |||
| Support | S1 | 27.96 | -4.26 % | |
| S2 | 27.54 | -5.67 % | ||
| S3 | 26.88 | -7.95 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 29.20 | |||
| Support | S1 | 28.72 | -1.64% | |
| S2 | 26.16 | -10.41% | ||
| S3 | 25.86 | -11.44% |
FAQ
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