Eregli Demir ve Çelik Fabrikalari Stock Forecast
Green day on Thursday for Eregli Demir ve Çelik Fabrikalari stock after gaining 0.798%
(Updated on Apr 18, 2024)
The Eregli Demir ve Çelik Fabrikalari stock price gained 0.798% on the last trading day (Thursday, 18th Apr 2024), rising from TRY 40.12 to TRY 40.44. During the last trading day the stock fluctuated 1.95% from a day low at TRY 40.00 to a day high of TRY 40.78. The price has been going up and down for this period, and there has been a -2.08% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 62 million shares were bought and sold for approximately TRY 2.52 billion.
The stock lies in the middle of a 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 -7.35% during the next 3 months and, with a 90% probability hold a price between TRY 35.01 and TRY 43.75 at the end of this 3-month period.
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EREGL.IS Signals & Forecast
There are mixed signals in the stock today. The Eregli Demir ve Çelik Fabrikalari 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 41.11 and TRY 43.23. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Wednesday, April 03, 2024, and so far it has risen 5.64%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Eregli Demir ve Çelik Fabrikalari stock
Eregli Demir ve Çelik Fabrikalari finds support from accumulated volume at TRY 39.42 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 0.780 between high and low, or 1.95%. For the last week, the stock has had daily average volatility of 2.06%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EREGL.IS) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Eregli Demir ve Çelik Fabrikalari T.A.S. to open at TRY 40.41, and during the day (based on 14 day Average True Range), to move between TRY 39.29 and TRY 41.59, which gives a possible trading interval of +/-TRY 1.15 (+/-2.85%) up or down from last closing price. If Eregli Demir ve Çelik Fabrikalari T.A.S. takes out the full calculated possible swing range there will be an estimated 5.71% 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 39.42 (2.52%) than the resistance at TRY 46.90 (15.97%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Eregli Demir ve Çelik Fabrikalari T.A.S. stock A Buy?
Eregli Demir ve Çelik Fabrikalari holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.277 Sell Candidate Unchanged
Predicted Opening Price for Eregli Demir ve Çelik Fabrikalari T.A.S. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| TRY 40.41 ( 0.0824%) | TRY 40.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EREGL.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 41.19 | 1.85 % | |
| R2 | 40.89 | 1.11 % | ||
| R1 | 40.70 | 0.654 % | ||
| Current price: | 40.44 | |||
| Support | S1 | 40.11 | -0.82 % | |
| S2 | 39.92 | -1.27 % | ||
| S3 | 39.63 | -2.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 49.12 | 21.46 % | |
| R2 | 48.64 | 20.28 % | ||
| R1 | 46.90 | 15.97 % | ||
| Current price | 40.44 | |||
| Support | S1 | 39.42 | -2.52% | |
| S2 | 38.90 | -3.81% | ||
| S3 | 38.28 | -5.34% |
EREGL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 16, 2024 | Apr 16, 2024 | Apr 18, 2024 | TRY 0.500 | 1.23% |
| 2 | Mar 22, 2022 | Mar 22, 2022 | Mar 22, 2022 | TRY 4.45 | 13.17% |
| 3 | Mar 24, 2021 | Mar 24, 2021 | Mar 24, 2021 | TRY 1.85 | 12.89% |
| 4 | Jul 17, 2020 | Jul 17, 2020 | Jul 17, 2020 | TRY 0.230 | 2.64% |
| 5 | Apr 24, 2020 | Apr 24, 2020 | Apr 24, 2020 | TRY 1.20 | 15.08% |
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