Global Menkul Degerler Anonim Sirketi Stock Forecast
Green day on Wednesday for Global Menkul Degerler Anonim Sirketi
(Updated on May 08, 2024)
The Global Menkul Degerler Anonim Sirketi stock price gained 1.21% on the last trading day (Wednesday, 8th May 2024), rising from TRY 41.38 to TRY 41.88. During the last trading day the stock fluctuated 4.01% from a day low at TRY 40.86 to a day high of TRY 42.50. The price has risen in 9 of the last 10 days and is up by 8.22% 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, 13 thousand more shares were traded than the day before. In total, 493 thousand shares were bought and sold for approximately TRY 20.66 million.
The stock lies the upper part of a very wide and falling 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 43.23 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -7.42% during the next 3 months and, with a 90% probability hold a price between TRY 31.68 and TRY 40.02 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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GLBMD.IS Signals & Forecast
Mostly positive signals in the chart today. The Global Menkul Degerler Anonim Sirketi 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 40.93 and TRY 38.66. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 04, 2024, and so far it has risen 18.44%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Global Menkul Degerler Anonim Sirketi stock
Global Menkul Degerler Anonim Sirketi finds support from accumulated volume at TRY 41.60 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 1.64 between high and low, or 4.01%. For the last week, the stock has had daily average volatility of 5.03%.
Our recommended stop-loss: TRY 39.75 (-5.09%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (GLBMD.IS) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Global Menkul Degerler Anonim Sirketi to open at TRY 41.75, and during the day (based on 14 day Average True Range), to move between TRY 39.87 and TRY 43.89, which gives a possible trading interval of +/-TRY 2.01 (+/-4.81%) up or down from last closing price. If Global Menkul Degerler Anonim Sirketi takes out the full calculated possible swing range there will be an estimated 9.61% 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 41.60 (0.67%) than the resistance at TRY 42.50 (1.48%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Global Menkul Degerler Anonim Sirketi stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 4.212 Buy Candidate Unchanged
Predicted Opening Price for Global Menkul Degerler Anonim Sirketi of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| TRY 41.75 ( 0.318%) | TRY 41.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GLBMD.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 43.39 | 3.60 % | |
| R2 | 42.76 | 2.10 % | ||
| R1 | 42.37 | 1.18 % | ||
| Current price: | 41.88 | |||
| Support | S1 | 41.12 | -1.81 % | |
| S2 | 40.73 | -2.74 % | ||
| S3 | 40.11 | -4.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 45.44 | 8.50 % | |
| R2 | 44.44 | 6.11 % | ||
| R1 | 42.50 | 1.48 % | ||
| Current price | 41.88 | |||
| Support | S1 | 41.60 | -0.669% | |
| S2 | 40.80 | -2.58% | ||
| S3 | 39.86 | -4.82% |
FAQ
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