Garanti Yatirim Ortakligi A.S. Stock Forecast
Garanti Yatirim Ortakligi A.S. stock price up 2.75% on Friday
(Updated on May 10, 2024)
The Garanti Yatirim Ortakligi A.S. stock price gained 2.75% on the last trading day (Friday, 10th May 2024), rising from TRY 10.90 to TRY 11.20. During the last trading day the stock fluctuated 8.03% from a day low at TRY 10.46 to a day high of TRY 11.30. The price has risen in 8 of the last 10 days and is up by 9.59% 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, 715 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately TRY 30.84 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at TRY 10.27 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 23.58% during the next 3 months and, with a 90% probability hold a price between TRY 12.69 and TRY 18.80 at the end of this 3-month period.
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GRNYO.IS Signals & Forecast
The Garanti Yatirim Ortakligi 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 10.98 and TRY 10.71. 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 Tuesday, April 09, 2024, and so far it has fallen -21.84%. 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 Garanti Yatirim Ortakligi A.S. stock
On the downside, the stock finds support just below today's level from accumulated volume at TRY 10.45 and TRY 10.12. 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, Garanti Yatirim Ortakligi A.S. finds support just below today's level at TRY 10.45. If this is broken, then the next support from accumulated volume will be at TRY 10.12 and TRY 10.08.
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 0.84 between high and low, or 8.03%. For the last week, the stock has had daily average volatility of 6.10%.
Our recommended stop-loss: TRY 10.72 (-4.29%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (GRNYO.IS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Garanti Yatirim Ortakligi A.S. to open at TRY 10.99, and during the day (based on 14 day Average True Range), to move between TRY 10.49 and TRY 11.91, which gives a possible trading interval of +/-TRY 0.707 (+/-6.31%) up or down from last closing price. If Garanti Yatirim Ortakligi A.S. takes out the full calculated possible swing range there will be an estimated 12.63% 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 11.61 (3.66%) than the support at TRY 10.45 (6.70%), 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 Garanti Yatirim Ortakligi 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 Garanti Yatirim Ortakligi A.S. stock to perform well in the short-term.
Current score: 2.531 Buy Candidate Unchanged
Predicted Opening Price for Garanti Yatirim Ortakligi A.S. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| TRY 10.99 ( 1.90%) | TRY 11.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRNYO.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.83 | 5.60 % | |
| R2 | 11.51 | 2.73 % | ||
| R1 | 11.31 | 0.96 % | ||
| Current price: | 11.20 | |||
| Support | S1 | 10.67 | -4.77 % | |
| S2 | 10.47 | -6.54 % | ||
| S3 | 10.15 | -9.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.90 | 15.18 % | |
| R2 | 11.85 | 5.80 % | ||
| R1 | 11.61 | 3.66 % | ||
| Current price | 11.20 | |||
| Support | S1 | 10.45 | -6.70% | |
| S2 | 10.12 | -9.64% | ||
| S3 | 10.08 | -10.00% |
FAQ
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