Ege Seramik Sanayi ve Ticaret A.S. Stock Forecast
Is Ege Seramik Sanayi ve Ticaret A.S. stock still a buy after falling -8.64% on Friday?
(Updated on May 10, 2024)
The Ege Seramik Sanayi ve Ticaret A.S. stock price fell by -8.64% on the last day (Friday, 10th May 2024) from TRY 4.40 to TRY 4.02. During the last trading day the stock fluctuated 5.30% from a day low at TRY 3.96 to a day high of TRY 4.17. The price has risen in 7 of the last 10 days and is up by 4.15% over the past 2 weeks. Volume has increased on the last day by 11 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 21 million shares were bought and sold for approximately TRY 83.65 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 -8.63% during the next 3 months and, with a 90% probability hold a price between TRY 3.01 and TRY 4.01 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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EGSER.IS Signals & Forecast
The Ege Seramik Sanayi ve Ticaret A.S. 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 4.21. On a fall, the stock will find some support from the long-term average at approximately TRY 3.80. 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. 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. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen -8.64%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Ege Seramik Sanayi ve Ticaret A.S. stock
Ege Seramik Sanayi ve Ticaret A.S. finds support from accumulated volume at TRY 3.85 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 0.210 between high and low, or 5.30%. For the last week, the stock has had daily average volatility of 5.76%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EGSER.IS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Ege Seramik Sanayi ve Ticaret A.S. to open at TRY 4.05, and during the day (based on 14 day Average True Range), to move between TRY 3.83 and TRY 4.21, which gives a possible trading interval of +/-TRY 0.185 (+/-4.60%) up or down from last closing price. If Ege Seramik Sanayi ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 9.21% 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 3.85 (4.23%) than the resistance at TRY 4.26 (5.97%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ege Seramik Sanayi ve Ticaret A.S. stock A Buy?
Ege Seramik Sanayi ve Ticaret A.S. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.895 Sell Candidate Downgraded
Predicted Opening Price for Ege Seramik Sanayi ve Ticaret A.S. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| TRY 4.05 ( 0.746%) | TRY 4.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EGSER.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.26 | 5.97 % | |
| R2 | 4.18 | 3.97 % | ||
| R1 | 4.13 | 2.74 % | ||
| Current price: | 4.02 | |||
| Support | S1 | 3.97 | -1.25 % | |
| S2 | 3.92 | -2.48 % | ||
| S3 | 3.84 | -4.48 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.35 | 8.21 % | |
| R2 | 4.31 | 7.21 % | ||
| R1 | 4.26 | 5.97 % | ||
| Current price | 4.02 | |||
| Support | S1 | 3.85 | -4.23% | |
| S2 | 3.79 | -5.72% | ||
| S3 | 3.75 | -6.72% |
FAQ
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