Fonet Bilgi Teknolojileri Anonim Sirketi Stock Forecast

High volatility in Fonet Bilgi Teknolojileri Anonim Sirketi stock price on Monday which ended trading at TRY 21.96
(Updated on May 13, 2024)

FONET.IS Signals & Forecast

There are few to no technical positive signals at the moment. The Fonet Bilgi Teknolojileri Anonim Sirketi stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at TRY 24.87 and TRY 24.81. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 06, 2024, and so far it has fallen -58.80%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Fonet Bilgi Teknolojileri Anonim Sirketi stock

On the downside, the stock finds support just below today's level from accumulated volume at TRY 20.60 and TRY 18.73. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Fonet Bilgi Teknolojileri Anonim Sirketi finds support just below today's level at TRY 20.60. If this is broken, then the next support from accumulated volume will be at TRY 18.73 and TRY 17.03.

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 2.92 between high and low, or 13.49%. For the last week, the stock has had daily average volatility of 11.41%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (FONET.IS) For The Upcoming Trading Day Of Tuesday 14th

For the upcoming trading day on Tuesday, 14th we expect Fonet Bilgi Teknolojileri Anonim Sirketi to open at TRY 22.72, and during the day (based on 14 day Average True Range), to move between TRY 19.69 and TRY 24.23, which gives a possible trading interval of +/-TRY 2.27 (+/-10.33%) up or down from last closing price. If Fonet Bilgi Teknolojileri Anonim Sirketi takes out the full calculated possible swing range there will be an estimated 20.66% 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 20.60 (6.19%) than the resistance at TRY 23.74 (8.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Fonet Bilgi Teknolojileri Anonim Sirketi stock A Buy?

Fonet Bilgi Teknolojileri Anonim Sirketi 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.

Current score: -5.012 Strong Sell Candidate Downgraded

Predicted Opening Price for Fonet Bilgi Teknolojileri Anonim Sirketi of Tuesday, May 14, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.