Elite Naturel Organik Gida Sanayi ve Stock Forecast
Red day on Friday for Elite Naturel Organik Gida Sanayi ve
(Updated on Jun 28, 2024)
The Elite Naturel Organik Gida Sanayi ve stock price fell by -3.51% on the last day (Friday, 28th Jun 2024) from TRY 28.50 to TRY 27.50. During the last trading day the stock fluctuated 7.02% from a day low at TRY 27.34 to a day high of TRY 29.26. The price has fallen in 5 of the last 10 days but is still up by 3.77% over the past 2 weeks. Volume has increased on the last day by 2 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, 3 million shares were bought and sold for approximately TRY 82.53 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 -46.78% during the next 3 months and, with a 90% probability hold a price between TRY 11.16 and TRY 17.04 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 4.17%. 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). 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 32.84. A break-up above any of these levels will issue buy signals. 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 Elite Naturel Organik Gida Sanayi ve stock
Elite Naturel Organik Gida Sanayi ve finds support from accumulated volume at TRY 27.38 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 1.92 between high and low, or 7.02%. For the last week, the stock has had daily average volatility of 5.06%.
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 Monday 1st
For the upcoming trading day on Monday, 1st we expect Elite Naturel Organik Gida Sanayi ve Ticaret A.S. to open at TRY 28.03, and during the day (based on 14 day Average True Range), to move between TRY 25.83 and TRY 29.17, which gives a possible trading interval of +/-TRY 1.67 (+/-6.08%) 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 12.16% 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 27.38 (0.44%) than the resistance at TRY 28.08 (2.11%), 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: -4.402 Sell Candidate Unchanged
Predicted Opening Price for Elite Naturel Organik Gida Sanayi ve Ticaret A.S. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| TRY 28.03 ( 1.94%) | TRY 27.50 |
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 | 29.95 | 8.92% |
| R2 | 29.22 | 6.25% |
| R1 | 28.77 | 4.61% |
| Price | 27.50 | |
| S1 | 27.30 | -0.728% |
| S2 | 26.85 | -2.38% |
| S3 | 26.11 | -5.04% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 33.88 | 23.20% |
| R2 | 33.60 | 22.18% |
| R1 | 28.08 | 2.11% |
| Price | 27.50 | |
| S1 | 27.38 | -0.436% |
| S2 | 27.36 | -0.509% |
| S3 | 26.50 | -3.64% |
FAQ
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