Egeplast Ege Plastik Ticaret ve Sanayi Stock Forecast
Stronger technical forecast for Egeplast Ege Plastik Ticaret ve Sanayi stock price after Thursday trading.
(Updated on May 09, 2024)
The Egeplast Ege Plastik Ticaret ve Sanayi stock price gained 2.63% on the last trading day (Thursday, 9th May 2024), rising from TRY 6.84 to TRY 7.02. During the last trading day the stock fluctuated 3.68% from a day low at TRY 6.79 to a day high of TRY 7.04. The price has risen in 5 of the last 10 days and is up by 0.86% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 7 million shares were bought and sold for approximately TRY 48.25 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 is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Egeplast Ege Plastik Ticaret ve Sanayi stock with a 90% probability to be traded between TRY 5.98 and TRY 7.38 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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EPLAS.IS Signals & Forecast
Mostly positive signals in the chart today. The Egeplast Ege Plastik Ticaret ve Sanayi 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 7.07. On a fall, the stock will find some support from the long-term average at approximately TRY 6.51. 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. A buy signal was issued from a pivot bottom point on Wednesday, May 08, 2024, and so far it has risen 2.63%. 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.
Support, Risk & Stop-loss for Egeplast Ege Plastik Ticaret ve Sanayi stock
Egeplast Ege Plastik Ticaret ve Sanayi finds support from accumulated volume at TRY 7.00 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 0.250 between high and low, or 3.68%. For the last week, the stock has had daily average volatility of 7.78%.
Our recommended stop-loss: TRY 6.72 (-4.26%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (EPLAS.IS) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Egeplast Ege Plastik Ticaret ve Sanayi Anonim Sirketi to open at TRY 6.95, and during the day (based on 14 day Average True Range), to move between TRY 6.63 and TRY 7.41, which gives a possible trading interval of +/-TRY 0.387 (+/-5.52%) up or down from last closing price. If Egeplast Ege Plastik Ticaret ve Sanayi Anonim Sirketi takes out the full calculated possible swing range there will be an estimated 11.04% 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 7.00 (0.28%) than the resistance at TRY 7.10 (1.14%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Egeplast Ege Plastik Ticaret ve Sanayi Anonim Sirketi stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Egeplast Ege Plastik Ticaret ve Sanayi stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.932 Buy Candidate Upgraded
Predicted Opening Price for Egeplast Ege Plastik Ticaret ve Sanayi Anonim Sirketi of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| TRY 6.95 ( 1.00%) | TRY 7.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EPLAS.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.20 | 2.56 % | |
| R2 | 7.10 | 1.20 % | ||
| R1 | 7.05 | 0.363 % | ||
| Current price: | 7.02 | |||
| Support | S1 | 6.85 | -2.36 % | |
| S2 | 6.80 | -3.20 % | ||
| S3 | 6.70 | -4.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.35 | 4.70 % | |
| R2 | 7.19 | 2.42 % | ||
| R1 | 7.10 | 1.14 % | ||
| Current price | 7.02 | |||
| Support | S1 | 7.00 | -0.285% | |
| S2 | 6.89 | -1.85% | ||
| S3 | 6.84 | -2.56% |
FAQ
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