Girisim Elektrik Sanayi Taahhüt ve Stock Forecast
Girisim Elektrik Sanayi Taahhüt ve stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on May 10, 2024)
The Girisim Elektrik Sanayi Taahhüt ve stock price fell by -2.13% on the last day (Friday, 10th May 2024) from TRY 72.70 to TRY 71.15. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 2.39% from a day low at TRY 71.15 to a day high of TRY 72.85. The price has fallen in 8 of the last 10 days and is down by -3.59% 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 -19 thousand shares and in total, 3 million shares were bought and sold for approximately TRY 208.38 million.
The stock lies in the middle of a very 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 -10.60% during the next 3 months and, with a 90% probability hold a price between TRY 53.58 and TRY 70.28 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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GESAN.IS Signals & Forecast
The Girisim Elektrik Sanayi Taahhüt 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 74.30. On a fall, the stock will find some support from the long-term average at approximately TRY 70.77. 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. 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 03, 2024, and so far it has fallen -10.39%. 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). 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 Girisim Elektrik Sanayi Taahhüt ve stock
Girisim Elektrik Sanayi Taahhüt ve finds support from accumulated volume at TRY 71.00 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 1.70 between high and low, or 2.39%. For the last week, the stock has had daily average volatility of 3.59%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GESAN.IS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Girisim Elektrik Sanayi Taahhüt ve Ticaret A.S. to open at TRY 71.72, and during the day (based on 14 day Average True Range), to move between TRY 67.91 and TRY 74.39, which gives a possible trading interval of +/-TRY 3.24 (+/-4.55%) up or down from last closing price. If Girisim Elektrik Sanayi Taahhüt ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 9.09% 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 71.00 (0.21%) than the resistance at TRY 79.40 (11.60%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Girisim Elektrik Sanayi Taahhüt ve Ticaret A.S. stock A Buy?
Girisim Elektrik Sanayi Taahhüt ve holds several negative signals and we believe that 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: -1.587 Sell Candidate Downgraded
Predicted Opening Price for Girisim Elektrik Sanayi Taahhüt ve Ticaret A.S. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| TRY 71.72 ( 0.796%) | TRY 71.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GESAN.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 73.42 | 3.19 % | |
| R2 | 72.77 | 2.27 % | ||
| R1 | 72.37 | 1.71 % | ||
| Current price: | 71.15 | |||
| Support | S1 | 71.07 | -0.116 % | |
| S2 | 70.67 | -0.680 % | ||
| S3 | 70.02 | -1.59 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 83.60 | 17.50 % | |
| R2 | 81.90 | 15.11 % | ||
| R1 | 79.40 | 11.60 % | ||
| Current price | 71.15 | |||
| Support | S1 | 71.00 | -0.211% | |
| S2 | 70.75 | -0.562% | ||
| S3 | 70.20 | -1.34% |
FAQ
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