Erbosan Erciyas Boru Sanayii ve Ticaret Stock Forecast
Green day on Tuesday for Erbosan Erciyas Boru Sanayii ve Ticaret
(Updated on May 14, 2024)
The Erbosan Erciyas Boru Sanayii ve Ticaret stock price gained 0.0905% on the last trading day (Tuesday, 14th May 2024), rising from TRY 221.00 to TRY 221.20. During the last trading day the stock fluctuated 1.95% from a day low at TRY 220.40 to a day high of TRY 224.70. The price has been going up and down for this period, and there has been a -2.47% loss for the last 2 weeks. Volume fell on the last day by -57 thousand shares and in total, 193 thousand shares were bought and sold for approximately TRY 42.59 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 lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at TRY 220.46 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -9.73% during the next 3 months and, with a 90% probability hold a price between TRY 199.01 and TRY 264.16 at the end of this 3-month period.
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ERBOS.IS Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, May 13, 2024, and so far it has risen 0.0905%. Further rise is indicated until a new top pivot has been found. 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 Erbosan Erciyas Boru Sanayii ve Ticaret 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 226.96 and TRY 255.34. 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 Erbosan Erciyas Boru Sanayii ve Ticaret stock
Erbosan Erciyas Boru Sanayii ve Ticaret finds support from accumulated volume at TRY 221.00 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 4.30 between high and low, or 1.95%. For the last week, the stock has had daily average volatility of 2.99%.
Erbosan Erciyas Boru Sanayii ve Ticaret is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ERBOS.IS) For The Upcoming Trading Day Of Wednesday 15th
For the upcoming trading day on Wednesday, 15th we expect Erbosan Erciyas Boru Sanayii ve Ticaret A.S. to open at TRY 222.10, and during the day (based on 14 day Average True Range), to move between TRY 209.64 and TRY 232.76, which gives a possible trading interval of +/-TRY 11.56 (+/-5.23%) up or down from last closing price. If Erbosan Erciyas Boru Sanayii ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 10.46% 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 221.00 (0.09%) than the resistance at TRY 249.00 (12.57%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Erbosan Erciyas Boru Sanayii ve Ticaret A.S. stock A Buy?
Erbosan Erciyas Boru Sanayii ve Ticaret 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: -3.589 Sell Candidate Unchanged
Predicted Opening Price for Erbosan Erciyas Boru Sanayii ve Ticaret A.S. of Wednesday, May 15, 2024
| Fair opening price May 15, 2024 | Current price |
|---|---|
| TRY 222.10 ( 0.407%) | TRY 221.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ERBOS.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 226.40 | 2.35 % | |
| R2 | 224.76 | 1.61 % | ||
| R1 | 223.74 | 1.15 % | ||
| Current price: | 221.20 | |||
| Support | S1 | 220.46 | -0.336 % | |
| S2 | 219.44 | -0.794 % | ||
| S3 | 217.80 | -1.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 259.00 | 17.09 % | |
| R2 | 254.25 | 14.94 % | ||
| R1 | 249.00 | 12.57 % | ||
| Current price | 221.20 | |||
| Support | S1 | 221.00 | -0.0904% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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