Ensari Deri Gida Sanayi ve Ticaret A.S. Stock Forecast
Ensari Deri Gida Sanayi ve Ticaret A.S. stock price up 1.62% on Friday
(Updated on Jun 28, 2024)
The Ensari Deri Gida Sanayi ve Ticaret A.S. stock price gained 1.62% on the last trading day (Friday, 28th Jun 2024), rising from TRY 17.87 to TRY 18.16. During the last trading day the stock fluctuated 5.95% from a day low at TRY 17.65 to a day high of TRY 18.70. The price has fallen in 6 of the last 10 days and is down by -7.49% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 273 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately TRY 19.66 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 -33.59% during the next 3 months and, with a 90% probability hold a price between TRY 10.56 and TRY 15.36 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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ENSRI.IS Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 2.31%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Ensari Deri Gida Sanayi ve Ticaret A.S. 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 18.40 and TRY 22.69. 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 Ensari Deri Gida Sanayi ve Ticaret A.S. stock
Ensari Deri Gida Sanayi ve Ticaret A.S. finds support from accumulated volume at TRY 18.10 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved TRY 1.05 between high and low, or 5.95%. For the last week, the stock has had daily average volatility of 4.70%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ENSRI.IS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Ensari Deri Gida Sanayi ve Ticaret A.S. to open at TRY 18.17, and during the day (based on 14 day Average True Range), to move between TRY 16.82 and TRY 19.50, which gives a possible trading interval of +/-TRY 1.34 (+/-7.37%) up or down from last closing price. If Ensari Deri Gida Sanayi ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 14.73% 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 18.10 (0.33%) than the resistance at TRY 19.52 (7.49%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ensari Deri Gida Sanayi ve Ticaret A.S. stock A Buy?
Ensari Deri Gida Sanayi ve Ticaret A.S. 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: -4.045 Sell Candidate Unchanged
Predicted Opening Price for Ensari Deri Gida Sanayi ve Ticaret A.S. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| TRY 18.17 ( 0.0551%) | TRY 18.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ENSRI.IS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 19.22 | 5.84% |
| R2 | 18.82 | 3.63% |
| R1 | 18.57 | 2.26% |
| Price | 18.16 | |
| S1 | 17.77 | -2.15% |
| S2 | 17.52 | -3.52% |
| S3 | 17.12 | -5.73% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 19.74 | 8.70% |
| R2 | 19.63 | 8.09% |
| R1 | 19.52 | 7.49% |
| Price | 18.16 | |
| S1 | 18.10 | -0.330% |
| S2 | 17.87 | -1.60% |
| S3 | 17.75 | -2.26% |
FAQ
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