Elite Naturel Organik Gida Sanayi ve Stock Forecast
Elite Naturel Organik Gida Sanayi ve stock price up 0.284% on Tuesday
(Updated on Jun 25, 2024)
The Elite Naturel Organik Gida Sanayi ve stock price gained 0.284% on the last trading day (Tuesday, 25th Jun 2024), rising from TRY 28.18 to TRY 28.26. During the last trading day the stock fluctuated 4.44% from a day low at TRY 27.92 to a day high of TRY 29.16. The price has been going up and down for this period, and there has been a 1.65% gain for the last 2 weeks. Volume fell on the last day by -131 thousand shares and in total, 2 million shares were bought and sold for approximately TRY 43.42 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 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 -43.61% during the next 3 months and, with a 90% probability hold a price between TRY 12.78 and TRY 19.39 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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ELITE.IS Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 10, 2024, and so far it has risen 7.05%. 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 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 Elite Naturel Organik Gida Sanayi ve stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at TRY 28.47 and TRY 34.67. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Elite Naturel Organik Gida Sanayi ve stock
Elite Naturel Organik Gida Sanayi ve finds support from accumulated volume at TRY 27.88 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 1.24 between high and low, or 4.44%. For the last week, the stock has had daily average volatility of 6.16%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ELITE.IS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Elite Naturel Organik Gida Sanayi ve Ticaret A.S. to open at TRY 28.45, and during the day (based on 14 day Average True Range), to move between TRY 26.47 and TRY 30.05, which gives a possible trading interval of +/-TRY 1.79 (+/-6.33%) up or down from last closing price. If Elite Naturel Organik Gida Sanayi ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 12.67% 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 27.88 (1.34%) than the resistance at TRY 31.36 (10.97%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Elite Naturel Organik Gida Sanayi ve Ticaret A.S. stock A Buy?
Elite Naturel Organik Gida Sanayi ve holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.568 Sell Candidate Unchanged
Predicted Opening Price for Elite Naturel Organik Gida Sanayi ve Ticaret A.S. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| TRY 28.45 ( 0.661%) | TRY 28.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ELITE.IS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 29.69 | 5.05% |
| R2 | 29.21 | 3.37% |
| R1 | 28.92 | 2.34% |
| Price | 28.26 | |
| S1 | 27.97 | -1.02% |
| S2 | 27.68 | -2.05% |
| S3 | 27.21 | -3.73% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 33.88 | 19.89% |
| R2 | 33.60 | 18.90% |
| R1 | 31.36 | 10.97% |
| Price | 28.26 | |
| S1 | 27.88 | -1.34% |
| S2 | 27.38 | -3.11% |
| S3 | 26.50 | -6.23% |
FAQ
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