Forte Bilgi Iletisim Teknolojileri ve Stock Forecast
Forte Bilgi Iletisim Teknolojileri ve stock price ended at TRY 69.60 on Friday, after gaining 0.87%.
(Updated on May 17, 2024)
The Forte Bilgi Iletisim Teknolojileri ve stock price gained 0.87% on the last trading day (Friday, 17th May 2024), rising from TRY 69.00 to TRY 69.60. During the last trading day the stock fluctuated 3.56% from a day low at TRY 68.75 to a day high of TRY 71.20. The price has fallen in 7 of the last 10 days and is down by -3.93% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 364 thousand more shares were traded than the day before. In total, 994 thousand shares were bought and sold for approximately TRY 69.18 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 -22.81% during the next 3 months and, with a 90% probability hold a price between TRY 43.98 and TRY 57.96 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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FORTE.IS Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 04, 2024, and so far it has risen 4.27%. 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 Forte Bilgi Iletisim Teknolojileri ve 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 69.99 and TRY 70.40. 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 Forte Bilgi Iletisim Teknolojileri ve stock
Forte Bilgi Iletisim Teknolojileri ve finds support from accumulated volume at TRY 69.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved TRY 2.45 (3.56%) between high and low. For the last week, the stock has had daily average volatility of 3.77%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FORTE.IS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Forte Bilgi Iletisim Teknolojileri ve Savunma Sanayi A.S. to open at TRY 69.85, and during the day (based on 14 day Average True Range), to move between TRY 66.40 and TRY 72.80, which gives a possible trading interval of +/-TRY 3.20 (+/-4.59%) up or down from last closing price. If Forte Bilgi Iletisim Teknolojileri ve Savunma Sanayi A.S. takes out the full calculated possible swing range there will be an estimated 9.19% 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 69.85 (0.36%) than the support at TRY 69.00 (0.86%), 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 Forte Bilgi Iletisim Teknolojileri ve Savunma Sanayi A.S. stock A Buy?
Forte Bilgi Iletisim Teknolojileri ve 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: -1.365 Sell Candidate Unchanged
Predicted Opening Price for Forte Bilgi Iletisim Teknolojileri ve Savunma Sanayi A.S. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| TRY 69.85 ( 0.359%) | TRY 69.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FORTE.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 72.30 | 3.88 % | |
| R2 | 71.36 | 2.53 % | ||
| R1 | 70.79 | 1.70 % | ||
| Current price: | 69.60 | |||
| Support | S1 | 68.91 | -0.99 % | |
| S2 | 68.34 | -1.82 % | ||
| S3 | 67.40 | -3.16 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 81.00 | 16.38 % | |
| R2 | 74.55 | 7.11 % | ||
| R1 | 69.85 | 0.359 % | ||
| Current price | 69.60 | |||
| Support | S1 | 69.00 | -0.86% | |
| S2 | 68.00 | -2.30% | ||
| S3 | 66.75 | -4.09% |
FAQ
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