Fenerbahçe Futbol A.S. Stock Forecast
Fenerbahçe Futbol A.S. stock upgraded to Hold/Accumulate.
(Updated on May 07, 2024)
The Fenerbahçe Futbol A.S. stock price gained 3.24% on the last trading day (Tuesday, 7th May 2024), rising from TRY 84.95 to TRY 87.70. During the last trading day the stock fluctuated 8.47% from a day low at TRY 81.50 to a day high of TRY 88.40. The price has been going up and down for this period, and there has been a -3.63% 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, 386 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately TRY 241.76 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 -18.03% during the next 3 months and, with a 90% probability hold a price between TRY 58.56 and TRY 76.97 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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FENER.IS Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, March 25, 2024, and so far it has risen 8.67%. 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 Fenerbahçe Futbol 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 87.95 and TRY 88.47. 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 Fenerbahçe Futbol A.S. stock
Fenerbahçe Futbol A.S. finds support from accumulated volume at TRY 85.75 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 6.90 between high and low, or 8.47%. For the last week, the stock has had daily average volatility of 3.86%.
Our recommended stop-loss: TRY 83.14 (-5.20%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (FENER.IS) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Fenerbahçe Futbol A.S. to open at TRY 85.87, and during the day (based on 14 day Average True Range), to move between TRY 83.05 and TRY 92.35, which gives a possible trading interval of +/-TRY 4.65 (+/-5.30%) up or down from last closing price. If Fenerbahçe Futbol A.S. takes out the full calculated possible swing range there will be an estimated 10.60% 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 85.75 (2.22%) than the resistance at TRY 93.60 (6.73%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Fenerbahçe Futbol A.S. stock A Buy?
Fenerbahçe Futbol A.S. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.986 Hold/Accumulate Upgraded
Predicted Opening Price for Fenerbahçe Futbol A.S. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| TRY 85.87 ( 2.09%) | TRY 87.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FENER.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 92.77 | 5.78 % | |
| R2 | 90.13 | 2.77 % | ||
| R1 | 88.50 | 0.92 % | ||
| Current price: | 87.70 | |||
| Support | S1 | 83.23 | -5.10 % | |
| S2 | 81.60 | -6.95 % | ||
| S3 | 78.97 | -9.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 103.90 | 18.47 % | |
| R2 | 97.40 | 11.06 % | ||
| R1 | 93.60 | 6.73 % | ||
| Current price | 87.70 | |||
| Support | S1 | 85.75 | -2.22% | |
| S2 | 85.00 | -3.08% | ||
| S3 | 82.70 | -5.70% |
FAQ
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