Enka Insaat ve Sanayi A.S. Stock Forecast
Enka Insaat ve Sanayi A.S. stock price ended at TRY 39.16 on Thursday, after losing 0.204%.
(Updated on May 09, 2024)
The Enka Insaat ve Sanayi A.S. stock price fell by -0.204% on the last day (Thursday, 9th May 2024) from TRY 39.24 to TRY 39.16. During the last trading day the stock fluctuated 1.75% from a day low at TRY 38.80 to a day high of TRY 39.48. The price has risen in 6 of the last 10 days and is up by 8.3% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -14 million shares and in total, 14 million shares were bought and sold for approximately TRY 561.73 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at TRY 39.20 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -6.15% during the next 3 months and, with a 90% probability hold a price between TRY 30.49 and TRY 36.79 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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ENKAI.IS Signals & Forecast
The Enka Insaat ve Sanayi A.S. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at TRY 38.68 and TRY 36.24. A breakdown below any of these levels will issue sell signals. 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 Wednesday, May 08, 2024, and so far it has fallen -0.204%. Further fall is indicated until a new bottom pivot has been found. 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 Enka Insaat ve Sanayi A.S. stock
Enka Insaat ve Sanayi A.S. finds support from accumulated volume at TRY 38.40 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 0.680 between high and low, or 1.75%. For the last week, the stock has had daily average volatility of 2.35%.
The Enka Insaat ve Sanayi A.S. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: TRY 37.77 (-3.56%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 76 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (ENKAI.IS) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Enka Insaat ve Sanayi A.S. to open at TRY 39.15, and during the day (based on 14 day Average True Range), to move between TRY 38.13 and TRY 40.19, which gives a possible trading interval of +/-TRY 1.03 (+/-2.62%) up or down from last closing price. If Enka Insaat ve Sanayi A.S. takes out the full calculated possible swing range there will be an estimated 5.25% 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 39.88 (1.84%) than the support at TRY 38.40 (1.94%), 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.
Earnings coming up
Enka Insaat ve Sanayi A.S. will release earnings BMO on Friday, May 10, 2024. We will update the financials statements for Enka Insaat ve Sanayi A.S., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.16% in the first trading day after earnings release.
Is Enka Insaat ve Sanayi A.S. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.687 Buy Candidate Unchanged
Predicted Opening Price for Enka Insaat ve Sanayi A.S. of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| TRY 39.15 ( 0.0340%) | TRY 39.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ENKAI.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.83 | 1.70 % | |
| R2 | 39.57 | 1.04 % | ||
| R1 | 39.41 | 0.629 % | ||
| Current price: | 39.16 | |||
| Support | S1 | 38.89 | -0.697 % | |
| S2 | 38.73 | -1.11 % | ||
| S3 | 38.47 | -1.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 40.22 | 2.71 % | |
| R2 | 40.18 | 2.60 % | ||
| R1 | 39.88 | 1.84 % | ||
| Current price | 39.16 | |||
| Support | S1 | 38.40 | -1.94% | |
| S2 | 36.20 | -7.56% | ||
| S3 | 34.80 | -11.13% |
ENKAI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 14, 2024 | May 14, 2024 | May 16, 2024 | TRY 1.25 | 3.18% |
| 2 | Jan 03, 2024 | Jan 03, 2024 | Jan 03, 2024 | TRY 0 | 0% |
| 3 | Apr 12, 2023 | Apr 12, 2023 | Apr 12, 2023 | TRY 0.363 | 1.15% |
| 4 | Apr 13, 2022 | Apr 13, 2022 | Apr 13, 2022 | TRY 0.467 | 3.20% |
| 5 | Jan 05, 2022 | Jan 05, 2022 | Jan 05, 2022 | TRY 0.187 | 1.26% |
FAQ
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