Gedik Yatirim Menkul Degerler A.S. Stock Forecast
Gedik Yatirim Menkul Degerler A.S. stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 17, 2024)
The Gedik Yatirim Menkul Degerler A.S. stock price gained 2.45% on the last trading day (Friday, 17th May 2024), rising from TRY 15.93 to TRY 16.32. 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 2.69% from a day low at TRY 16.00 to a day high of TRY 16.43. The price has risen in 7 of the last 10 days and is up by 1.75% 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, 348 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately TRY 21.41 million.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at TRY 16.54 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 7.98% during the next 3 months and, with a 90% probability hold a price between TRY 14.43 and TRY 17.86 at the end of this 3-month period.
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GEDIK.IS Signals & Forecast
The Gedik Yatirim Menkul Degerler 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 15.98 and TRY 14.74. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Friday, May 10, 2024, and so far it has fallen -0.730%. 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 Gedik Yatirim Menkul Degerler A.S. stock
Gedik Yatirim Menkul Degerler A.S. finds support from accumulated volume at TRY 15.89 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 0.430 between high and low, or 2.69%. For the last week, the stock has had daily average volatility of 3.37%.
Our recommended stop-loss: TRY 15.69 (-3.84%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (GEDIK.IS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Gedik Yatirim Menkul Degerler A.S. to open at TRY 16.25, and during the day (based on 14 day Average True Range), to move between TRY 15.82 and TRY 16.82, which gives a possible trading interval of +/-TRY 0.504 (+/-3.09%) up or down from last closing price. If Gedik Yatirim Menkul Degerler A.S. takes out the full calculated possible swing range there will be an estimated 6.18% 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 16.44 (0.74%) than the support at TRY 15.89 (2.63%), 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 Gedik Yatirim Menkul Degerler 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 Gedik Yatirim Menkul Degerler A.S. 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: 3.262 Buy Candidate Upgraded
Predicted Opening Price for Gedik Yatirim Menkul Degerler A.S. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| TRY 16.25 ( 0.429%) | TRY 16.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GEDIK.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.68 | 2.21 % | |
| R2 | 16.52 | 1.20 % | ||
| R1 | 16.41 | 0.578 % | ||
| Current price: | 16.32 | |||
| Support | S1 | 16.09 | -1.44 % | |
| S2 | 15.98 | -2.06 % | ||
| S3 | 15.82 | -3.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 16.44 | 0.735 % | ||
| Current price | 16.32 | |||
| Support | S1 | 15.89 | -2.63% | |
| S2 | 15.03 | -7.90% | ||
| S3 | 14.69 | -9.99% |
FAQ
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