Frigo-Pak Gida Maddeleri Sanayi ve Stock Forecast
Frigo-Pak Gida Maddeleri Sanayi ve stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Apr 30, 2024)
The Frigo-Pak Gida Maddeleri Sanayi ve stock price fell by -0.254% on the last day (Tuesday, 30th Apr 2024) from TRY 7.88 to TRY 7.86. During the last trading day the stock fluctuated 2.44% from a day low at TRY 7.79 to a day high of TRY 7.98. The price has fallen in 6 of the last 10 days and is down by -0.38% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -844 thousand shares and in total, 2 million shares were bought and sold for approximately TRY 12.13 million.
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 -8.99% during the next 3 months and, with a 90% probability hold a price between TRY 6.22 and TRY 7.77 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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FRIGO.IS Signals & Forecast
The Frigo-Pak Gida Maddeleri Sanayi ve stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately TRY 7.95. On a fall, the stock will find some support from the long-term average at approximately TRY 7.82. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Thursday, April 04, 2024, and so far it has risen 11.81%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 Frigo-Pak Gida Maddeleri Sanayi ve stock
Frigo-Pak Gida Maddeleri Sanayi ve finds support from accumulated volume at TRY 7.81 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 0.190 between high and low, or 2.44%. For the last week, the stock has had daily average volatility of 3.17%.
Our recommended stop-loss: TRY 7.53 (-4.14%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (FRIGO.IS) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Frigo-Pak Gida Maddeleri Sanayi ve Ticaret A.S. to open at TRY 7.88, and during the day (based on 14 day Average True Range), to move between TRY 7.54 and TRY 8.18, which gives a possible trading interval of +/-TRY 0.318 (+/-4.05%) 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 8.09% 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 7.81 (0.64%) than the resistance at TRY 8.04 (2.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Frigo-Pak Gida Maddeleri Sanayi ve Ticaret A.S. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.550 Buy Candidate Upgraded
Predicted Opening Price for Frigo-Pak Gida Maddeleri Sanayi ve Ticaret A.S. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| TRY 7.88 ( 0.212%) | TRY 7.86 |
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 | 8.07 | 2.63 % | |
| R2 | 7.99 | 1.71 % | ||
| R1 | 7.95 | 1.14 % | ||
| Current price: | 7.86 | |||
| Support | S1 | 7.80 | -0.711 % | |
| S2 | 7.76 | -1.28 % | ||
| S3 | 7.69 | -2.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.66 | 10.18 % | |
| R2 | 8.52 | 8.40 % | ||
| R1 | 8.04 | 2.29 % | ||
| Current price | 7.86 | |||
| Support | S1 | 7.81 | -0.636% | |
| S2 | 7.54 | -4.07% | ||
| S3 | 7.41 | -5.73% |
FAQ
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