Global Menkul Degerler Anonim Sirketi Stock Forecast
Volatile ride for Global Menkul Degerler Anonim Sirketi stock price on Friday moving between TRY 48.18 and TRY 53.30
(Updated on May 17, 2024)
The Global Menkul Degerler Anonim Sirketi stock price gained 2.26% on the last trading day (Friday, 17th May 2024), rising from TRY 48.68 to TRY 49.78. It has now gained 3 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 10.63% from a day low at TRY 48.18 to a day high of TRY 53.30. The price has risen in 8 of the last 10 days and is up by 21.95% 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, 425 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately TRY 87.10 million.
Given the current short-term trend, the stock is expected to rise 3.51% during the next 3 months and, with a 90% probability hold a price between TRY 37.37 and TRY 51.53 at the end of this 3-month period.
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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 45.79 and TRY 40.07. 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 40.78%. 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
On the downside, the stock finds support just below today's level from accumulated volume at TRY 45.44 and TRY 44.44. 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, Global Menkul Degerler Anonim Sirketi finds support just below today's level at TRY 45.44. If this is broken, then the next support from accumulated volume will be at TRY 44.44 and TRY 42.50.
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 5.12 between high and low, or 10.63%. For the last week, the stock has had daily average volatility of 10.35%.
The Global Menkul Degerler Anonim Sirketi stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: TRY 48.13 (-3.32%) (This stock has high daily movements and this gives high risk. The RSI14 is 84 and this increases the risk substantially. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (GLBMD.IS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Global Menkul Degerler Anonim Sirketi to open at TRY 50.42, and during the day (based on 14 day Average True Range), to move between TRY 46.86 and TRY 52.70, which gives a possible trading interval of +/-TRY 2.92 (+/-5.86%) 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 11.72% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ TRY 45.44, some TRY 4.34 (8.72%) from the current price of TRY 49.78, our system finds the risk reward attractive.
Is Global Menkul Degerler Anonim Sirketi stock A Buy?
Global Menkul Degerler Anonim Sirketi holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 7.543 Strong Buy Candidate Upgraded
Predicted Opening Price for Global Menkul Degerler Anonim Sirketi of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| TRY 50.42 ( 1.29%) | TRY 49.78 |
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 | 55.54 | 11.57 % | |
| R2 | 53.58 | 7.64 % | ||
| R1 | 52.38 | 5.21 % | ||
| Current price: | 49.78 | |||
| Support | S1 | 48.46 | -2.64 % | |
| S2 | 47.26 | -5.07 % | ||
| S3 | 45.30 | -9.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 49.78 | |||
| Support | S1 | 45.44 | -8.72% | |
| S2 | 44.44 | -10.73% | ||
| S3 | 42.50 | -14.62% |
FAQ
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