Turkiye Garanti Bankasi A.S. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Weaker technical forecast for Turkiye Garanti Bankasi A.S. as stock downgraded to Buy Candidate.
(Updated on May 10, 2024)
The Turkiye Garanti Bankasi A.S. stock price fell by -3.08% on the last day (Friday, 10th May 2024) from TRY 89.25 to TRY 86.50. During the last trading day the stock fluctuated 3.99% from a day low at TRY 86.50 to a day high of TRY 89.95. The price has risen in 7 of the last 10 days and is up by 9.36% over the past 2 weeks. 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 -11 million shares and in total, 15 million shares were bought and sold for approximately TRY 1.32 billion.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 35.56% during the next 3 months and, with a 90% probability hold a price between TRY 101.47 and TRY 121.53 at the end of this 3-month period.
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GARAN.IS Signals & Forecast
The Turkiye Garanti Bankasi A.S. 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 85.92 and TRY 75.17. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen -3.08%. Further fall is indicated until a new bottom pivot has been found. 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 Turkiye Garanti Bankasi A.S. stock
On the downside, the stock finds support just below today's level from accumulated volume at TRY 68.70 and TRY 67.95. 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, Turkiye Garanti Bankasi A.S. finds support just below today's level at TRY 68.70. If this is broken, then the next support from accumulated volume will be at TRY 67.95 and TRY 65.95.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved TRY 3.45 between high and low, or 3.99%. For the last week, the stock has had daily average volatility of 3.82%.
Our recommended stop-loss: TRY 82.43 (-4.71%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (GARAN.IS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Turkiye Garanti Bankasi A.S. to open at TRY 87.65, and during the day (based on 14 day Average True Range), to move between TRY 83.40 and TRY 89.60, which gives a possible trading interval of +/-TRY 3.10 (+/-3.58%) up or down from last closing price. If Turkiye Garanti Bankasi A.S. takes out the full calculated possible swing range there will be an estimated 7.16% 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 86.85 (0.40%) than the support at TRY 68.70 (20.58%), 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 Turkiye Garanti Bankasi A.S. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Turkiye Garanti Bankasi A.S. stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 2.862 Buy Candidate Downgraded
Predicted Opening Price for Turkiye Garanti Bankasi A.S. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| TRY 87.65 ( 1.33%) | TRY 86.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GARAN.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 91.10 | 5.32 % | |
| R2 | 89.78 | 3.79 % | ||
| R1 | 88.97 | 2.85 % | ||
| Current price: | 86.50 | |||
| Support | S1 | 86.33 | -0.194 % | |
| S2 | 85.52 | -1.14 % | ||
| S3 | 84.20 | -2.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 89.25 | 3.18 % | ||
| R1 | 86.85 | 0.405 % | ||
| Current price | 86.50 | |||
| Support | S1 | 68.70 | -20.58% | |
| S2 | 67.95 | -21.45% | ||
| S3 | 65.95 | -23.76% |
GARAN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 29, 2024 | Mar 29, 2024 | Mar 29, 2024 | TRY 0 | 0% |
| 2 | Apr 14, 2023 | Apr 14, 2023 | Apr 14, 2023 | TRY 2.09 | 7.64% |
| 3 | May 25, 2022 | May 25, 2022 | May 25, 2022 | TRY 0.311 | 2.11% |
| 4 | Apr 05, 2021 | Apr 05, 2021 | Apr 05, 2021 | TRY 0.149 | 2.15% |
| 5 | Apr 24, 2018 | Apr 24, 2018 | Apr 24, 2018 | TRY 0.417 | 4.29% |
FAQ
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