Edip Gayrimenkul Yatirim Sanayi ve Stock Forecast

Edip Gayrimenkul Yatirim Sanayi ve stock downgraded to Hold/Accumulate
(Updated on May 17, 2024)

EDIP.IS Signals & Forecast

The Edip Gayrimenkul Yatirim Sanayi ve 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 26.00. On a fall, the stock will find some support from the long-term average at approximately TRY 21.32. 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. 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, May 08, 2024, and so far it has fallen -12.33%. 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). 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 Edip Gayrimenkul Yatirim Sanayi ve stock

Edip Gayrimenkul Yatirim Sanayi ve finds support from accumulated volume at TRY 24.52 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 1.98 between high and low, or 7.92%. For the last week, the stock has had daily average volatility of 8.64%.

Our recommended stop-loss: TRY 24.02 (-6.16%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 10 days ago.)

Trading Expectations (EDIP.IS) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Edip Gayrimenkul Yatirim Sanayi ve Ticaret A.S. to open at TRY 25.86, and during the day (based on 14 day Average True Range), to move between TRY 23.45 and TRY 27.75, which gives a possible trading interval of +/-TRY 2.15 (+/-8.39%) 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 16.77% 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 25.86 (1.02%) than the support at TRY 24.52 (4.22%), 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 Edip Gayrimenkul Yatirim Sanayi ve Ticaret A.S. stock A Buy?

Edip Gayrimenkul Yatirim Sanayi ve holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.514 Hold/Accumulate Downgraded

Predicted Opening Price for Edip Gayrimenkul Yatirim Sanayi ve Ticaret A.S. of Monday, May 20, 2024

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