Frigo-Pak Gida Maddeleri Sanayi ve Stock Forecast
Frigo-Pak Gida Maddeleri Sanayi ve stock price up 3.10% on Tuesday
(Updated on May 07, 2024)
The Frigo-Pak Gida Maddeleri Sanayi ve stock price gained 3.10% on the last trading day (Tuesday, 7th May 2024), rising from TRY 8.71 to TRY 8.98. 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 8.11% from a day low at TRY 8.51 to a day high of TRY 9.20. The price has risen in 6 of the last 10 days and is up by 12.11% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 592 thousand more shares were traded than the day before. In total, 8 million shares were bought and sold for approximately TRY 72.17 million.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is TRY 8.46, a level that may pose a second chance to hit a runner. According to fan-theory TRY 10.14 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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FRIGO.IS Signals & Forecast
Mostly positive signals in the chart today. The Frigo-Pak Gida Maddeleri Sanayi ve stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at TRY 8.26 and TRY 7.83. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 04, 2024, and so far it has risen 27.74%. 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 Frigo-Pak Gida Maddeleri Sanayi ve stock
Frigo-Pak Gida Maddeleri Sanayi ve finds support from accumulated volume at TRY 8.66 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 0.690 between high and low, or 8.11%. For the last week, the stock has had daily average volatility of 5.49%.
Our recommended stop-loss: TRY 8.59 (-4.39%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (FRIGO.IS) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Frigo-Pak Gida Maddeleri Sanayi ve Ticaret A.S. to open at TRY 8.90, and during the day (based on 14 day Average True Range), to move between TRY 8.61 and TRY 9.35, which gives a possible trading interval of +/-TRY 0.374 (+/-4.16%) up or down from last closing price. If Frigo-Pak Gida Maddeleri 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 9.01 (0.33%) than the support at TRY 8.66 (3.56%), 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 Frigo-Pak Gida Maddeleri Sanayi ve Ticaret A.S. stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.
Current score: 4.972 Buy Candidate Unchanged
Predicted Opening Price for Frigo-Pak Gida Maddeleri Sanayi ve Ticaret A.S. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| TRY 8.90 ( 0.93%) | TRY 8.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FRIGO.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.59 | 6.76 % | |
| R2 | 9.32 | 3.82 % | ||
| R1 | 9.16 | 2.01 % | ||
| Current price: | 8.98 | |||
| Support | S1 | 8.63 | -3.86 % | |
| S2 | 8.47 | -5.68 % | ||
| S3 | 8.21 | -8.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.16 | 2.00 % | |
| R2 | 9.10 | 1.34 % | ||
| R1 | 9.01 | 0.334 % | ||
| Current price | 8.98 | |||
| Support | S1 | 8.66 | -3.56% | |
| S2 | 8.52 | -5.12% | ||
| S3 | 8.41 | -6.35% |
FAQ
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