Ege Endüstri ve Ticaret A.S. Stock Forecast
Ege Endüstri ve Ticaret A.S. stock upgraded from Strong Sell Candidate to Sell Candidate after Friday trading session.
(Updated on May 10, 2024)
The Ege Endüstri ve Ticaret A.S. stock price gained 1.16% on the last trading day (Friday, 10th May 2024), rising from TRY 14,700.00 to TRY 14,870.00. During the last trading day the stock fluctuated 4.38% from a day low at TRY 14,500.00 to a day high of TRY 15,135.00. The price has fallen in 6 of the last 10 days and is down by -7.78% for this period. Volume fell on the last day by -8 thousand shares and in total, 22 thousand shares were bought and sold for approximately TRY 323.84 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 weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at TRY 14,723.96 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 8.28% during the next 3 months and, with a 90% probability hold a price between TRY 15,942.64 and TRY 20,021.00 at the end of this 3-month period.
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EGEEN.IS Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 1.16%. Further rise is indicated until a new top pivot has been found. 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 Ege Endüstri ve Ticaret A.S. 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 15,822.14 and TRY 15,714.21. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Ege Endüstri ve Ticaret A.S. stock
Ege Endüstri ve Ticaret A.S. finds support from accumulated volume at TRY 14,767.50 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 635.00 between high and low, or 4.38%. For the last week, the stock has had daily average volatility of 5.24%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EGEEN.IS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Ege Endüstri ve Ticaret A.S. to open at TRY 14,835.00, and during the day (based on 14 day Average True Range), to move between TRY 13,969.41 and TRY 15,770.59, which gives a possible trading interval of +/-TRY 900.59 (+/-6.06%) up or down from last closing price. If Ege Endüstri ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 12.11% 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 14,767.50 (0.69%) than the resistance at TRY 15,672.50 (5.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Ege Endüstri ve Ticaret A.S. will release earnings BMO on Monday, May 13, 2024. We will update the financials statements for Ege Endüstri ve Ticaret A.S., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.95% in the first trading day after earnings release.
Is Ege Endüstri ve Ticaret A.S. stock A Buy?
The Ege Endüstri ve Ticaret A.S. stock holds several negative signals and despite the positive trend, we believe Ege Endüstri ve Ticaret A.S. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.202 Sell Candidate Upgraded
Predicted Opening Price for Ege Endüstri ve Ticaret A.S. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| TRY 14,835.00 ( 0.235%) | TRY 14,870.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EGEEN.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15,470.00 | 4.03 % | |
| R2 | 15,227.43 | 2.40 % | ||
| R1 | 15,077.57 | 1.40 % | ||
| Current price: | 14,870.00 | |||
| Support | S1 | 14,592.43 | -1.87 % | |
| S2 | 14,442.57 | -2.87 % | ||
| S3 | 14,200.00 | -4.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17,365.00 | 16.78 % | |
| R2 | 15,787.50 | 6.17 % | ||
| R1 | 15,672.50 | 5.40 % | ||
| Current price | 14,870.00 | |||
| Support | S1 | 14,767.50 | -0.689% | |
| S2 | 14,480.00 | -2.62% | ||
| S3 | 14,330.00 | -3.63% |
EGEEN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 29, 2024 | May 29, 2024 | May 31, 2024 | TRY 103.00 | 0.692% |
| 2 | Apr 28, 2023 | Apr 28, 2023 | Apr 28, 2023 | TRY 69.00 | 1.52% |
| 3 | Mar 29, 2023 | Mar 29, 2023 | Mar 29, 2023 | TRY 69.00 | 1.50% |
| 4 | Apr 29, 2022 | Apr 29, 2022 | Apr 29, 2022 | TRY 48.00 | 2.65% |
| 5 | Mar 31, 2022 | Mar 31, 2022 | Mar 31, 2022 | TRY 24.00 | 1.30% |
FAQ
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