Gentas Genel Metal Sanayi ve Ticaret Stock Forecast
Weaker technical forecast for Gentas Genel Metal Sanayi ve Ticaret as stock downgraded to Sell Candidate.
(Updated on May 02, 2024)
The Gentas Genel Metal Sanayi ve Ticaret stock price gained 3.05% on the last trading day (Thursday, 2nd May 2024), rising from TRY 8.53 to TRY 8.79. During the last trading day the stock fluctuated 3.17% from a day low at TRY 8.53 to a day high of TRY 8.80. The price has fallen in 6 of the last 10 days and is down by -7.38% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 472 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately TRY 22.89 million.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at TRY 8.53 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Gentas Genel Metal Sanayi ve Ticaret stock with a 90% probability to be traded between TRY 8.58 and TRY 10.82 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
GENTS.IS Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 3.05%. Further rise is indicated until a new top pivot has been found. 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. The Gentas Genel Metal Sanayi ve Ticaret stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at TRY 8.79 and TRY 9.55. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Gentas Genel Metal Sanayi ve Ticaret stock
Gentas Genel Metal Sanayi ve Ticaret finds support from accumulated volume at TRY 8.77 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 0.270 between high and low, or 3.17%. For the last week, the stock has had daily average volatility of 2.87%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GENTS.IS) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Gentas Genel Metal Sanayi ve Ticaret A.S. to open at TRY 8.71, and during the day (based on 14 day Average True Range), to move between TRY 8.46 and TRY 9.12, which gives a possible trading interval of +/-TRY 0.328 (+/-3.73%) up or down from last closing price. If Gentas Genel Metal Sanayi ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 7.47% 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 8.77 (0.23%) than the resistance at TRY 9.06 (3.07%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Gentas Genel Metal Sanayi ve Ticaret A.S. stock A Buy?
Gentas Genel Metal Sanayi ve Ticaret holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.425 Sell Candidate Downgraded
Predicted Opening Price for Gentas Genel Metal Sanayi ve Ticaret A.S. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| TRY 8.71 ( 0.95%) | TRY 8.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GENTS.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.98 | 2.12 % | |
| R2 | 8.87 | 0.95 % | ||
| R1 | 8.81 | 0.225 % | ||
| Current price: | 8.79 | |||
| Support | S1 | 8.60 | -2.12 % | |
| S2 | 8.54 | -2.85 % | ||
| S3 | 8.44 | -4.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.25 | 5.23 % | |
| R2 | 9.13 | 3.87 % | ||
| R1 | 9.06 | 3.07 % | ||
| Current price | 8.79 | |||
| Support | S1 | 8.77 | -0.228% | |
| S2 | 8.72 | -0.796% | ||
| S3 | 8.70 | -1.02% |
FAQ
Click here for our free guide on how to buy Gentas Genel Metal Sanayi ve Ticaret A.S. Stock.
