Garanti Faktoring A.S. Stock Forecast
Evaluation of Garanti Faktoring A.S. stock downgraded after the last trading session.
(Updated on Mar 28, 2024)
The Garanti Faktoring A.S. stock price gained 0.279% on the last trading day (Thursday, 28th Mar 2024), rising from TRY 179.00 to TRY 179.50. During the last trading day the stock fluctuated 4.97% from a day low at TRY 179.00 to a day high of TRY 187.90. The price has risen in 6 of the last 10 days and is up by 9.65% over the past 2 weeks. Volume fell on the last day by -64 thousand shares and in total, 295 thousand shares were bought and sold for approximately TRY 52.89 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 116.29% during the next 3 months and, with a 90% probability hold a price between TRY 370.04 and TRY 457.51 at the end of this 3-month period.
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GARFA.IS Signals & Forecast
The Garanti Faktoring A.S. 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 187.97. On a fall, the stock will find some support from the long-term average at approximately TRY 166.15. 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. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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, March 21, 2024, and so far it has fallen -11.36%. 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).
Support, Risk & Stop-loss for Garanti Faktoring A.S. stock
On the downside, the stock finds support just below today's level from accumulated volume at TRY 150.40 and TRY 144.60. 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, Garanti Faktoring A.S. finds support just below today's level at TRY 150.40. If this is broken, then the next support from accumulated volume will be at TRY 144.60 and TRY 142.00.
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 8.90 between high and low, or 4.97%. For the last week, the stock has had daily average volatility of 8.32%.
Our recommended stop-loss: TRY 169.77 (-5.42%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (GARFA.IS) For The Upcoming Trading Day Of Friday 29th
For the upcoming trading day on Friday, 29th we expect Garanti Faktoring A.S. to open at TRY 182.13, and during the day (based on 14 day Average True Range), to move between TRY 164.99 and TRY 194.01, which gives a possible trading interval of +/-TRY 14.51 (+/-8.08%) up or down from last closing price. If Garanti Faktoring A.S. takes out the full calculated possible swing range there will be an estimated 16.17% 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 180.00 (0.28%) than the support at TRY 150.40 (16.21%), 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 Garanti Faktoring A.S. stock A Buy?
Garanti Faktoring A.S. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.521 Hold/Accumulate Downgraded
Predicted Opening Price for Garanti Faktoring A.S. of Friday, March 29, 2024
Fair opening price March 29, 2024 | Current price |
---|---|
TRY 182.13 ( 1.47%) | TRY 179.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GARFA.IS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 191.03 | 6.43 % | |
R2 | 187.63 | 4.53 % | ||
R1 | 185.53 | 3.36 % | ||
Current price: | 179.50 | |||
Support | S1 | 178.73 | -0.427 % | |
S2 | 176.63 | -1.60 % | ||
S3 | 173.23 | -3.49 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 191.90 | 6.91 % | |
R2 | 191.50 | 6.69 % | ||
R1 | 180.00 | 0.279 % | ||
Current price | 179.50 | |||
Support | S1 | 150.40 | -16.21% | |
S2 | 144.60 | -19.44% | ||
S3 | 142.00 | -20.89% |
FAQ
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