Europen Endustri Insaat Sanayi ve Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Green day on Thursday for Europen Endustri Insaat Sanayi ve
(Updated on Jun 20, 2024)
The Europen Endustri Insaat Sanayi ve stock price gained 2.18% on the last trading day (Thursday, 20th Jun 2024), rising from TRY 14.66 to TRY 14.98. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.23% from a day low at TRY 14.78 to a day high of TRY 15.11. The price has been going up and down for this period, and there has been a 3.38% gain for the last 2 weeks. Volume fell on the last day by -2 million shares and in total, 5 million shares were bought and sold for approximately TRY 79.43 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 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 -6.81% during the next 3 months and, with a 90% probability hold a price between TRY 12.34 and TRY 14.52 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
EUREN.IS Signals & Forecast
The Europen Endustri Insaat Sanayi ve stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at TRY 14.24 and TRY 14.97. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 10.72%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Europen Endustri Insaat Sanayi ve stock
Europen Endustri Insaat Sanayi ve finds support from accumulated volume at TRY 14.49 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 0.330 between high and low, or 2.23%. For the last week, the stock has had daily average volatility of 3.89%.
Our recommended stop-loss: TRY 14.43 (-3.66%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (EUREN.IS) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Europen Endustri Insaat Sanayi ve Ticaret A.S. to open at TRY 14.96, and during the day (based on 14 day Average True Range), to move between TRY 14.36 and TRY 15.60, which gives a possible trading interval of +/-TRY 0.623 (+/-4.16%) up or down from last closing price. If Europen Endustri Insaat Sanayi ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 8.32% 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 15.00 (0.13%) than the support at TRY 14.49 (3.27%), 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.
Is Europen Endustri Insaat Sanayi ve Ticaret A.S. stock A Buy?
Europen Endustri Insaat Sanayi ve holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.114 Hold/Accumulate Unchanged
Predicted Opening Price for Europen Endustri Insaat Sanayi ve Ticaret A.S. of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| TRY 14.96 ( 0.156%) | TRY 14.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EUREN.IS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.29 | 2.05% |
| R2 | 15.16 | 1.21% |
| R1 | 15.08 | 0.686% |
| Price | 14.98 | |
| S1 | 14.83 | -1.00% |
| S2 | 14.75 | -1.52% |
| S3 | 14.63 | -2.36% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.03 | 7.01% |
| R2 | 15.54 | 3.74% |
| R1 | 15.00 | 0.134% |
| Price | 14.98 | |
| S1 | 14.49 | -3.27% |
| S2 | 14.32 | -4.41% |
| S3 | 14.10 | -5.87% |
FAQ
Click here for our free guide on how to buy Europen Endustri Insaat Sanayi ve Ticaret A.S. Stock.
