Galata Wind Enerji A.S. Stock Forecast
Stronger technical forecast for Galata Wind Enerji A.S. stock price after Friday trading.
(Updated on May 10, 2024)
The Galata Wind Enerji A.S. stock price gained 0.90% on the last trading day (Friday, 10th May 2024), rising from TRY 28.76 to TRY 29.02. During the last trading day the stock fluctuated 3.52% from a day low at TRY 28.40 to a day high of TRY 29.40. The price has risen in 6 of the last 10 days and is up by 4.01% 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, 2 million more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately TRY 144.22 million.
The stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at TRY 29.49 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Galata Wind Enerji A.S. stock with a 90% probability to be traded between TRY 23.57 and TRY 29.67 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.
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GWIND.IS Signals & Forecast
The Galata Wind Enerji A.S. 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 29.18. On a fall, the stock will find some support from the long-term average at approximately TRY 26.34. 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. 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. 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 Monday, May 06, 2024, and so far it has fallen -1.56%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Galata Wind Enerji A.S. stock
Galata Wind Enerji A.S. finds support from accumulated volume at TRY 29.00 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 1.00 between high and low, or 3.52%. For the last week, the stock has had daily average volatility of 3.03%.
Our recommended stop-loss: TRY 27.81 (-4.18%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (GWIND.IS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Galata Wind Enerji A.S. to open at TRY 28.94, and during the day (based on 14 day Average True Range), to move between TRY 27.92 and TRY 30.12, which gives a possible trading interval of +/-TRY 1.10 (+/-3.79%) up or down from last closing price. If Galata Wind Enerji A.S. takes out the full calculated possible swing range there will be an estimated 7.58% 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 29.00 (0.07%) than the resistance at TRY 29.10 (0.28%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Galata Wind Enerji A.S. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Galata Wind Enerji A.S. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.297 Buy Candidate Upgraded
Predicted Opening Price for Galata Wind Enerji A.S. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| TRY 28.94 ( 0.276%) | TRY 29.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GWIND.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.94 | 3.17 % | |
| R2 | 29.56 | 1.85 % | ||
| R1 | 29.32 | 1.04 % | ||
| Current price: | 29.02 | |||
| Support | S1 | 28.56 | -1.59 % | |
| S2 | 28.32 | -2.41 % | ||
| S3 | 27.94 | -3.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.34 | 1.10 % | |
| R2 | 29.30 | 0.96 % | ||
| R1 | 29.10 | 0.276 % | ||
| Current price | 29.02 | |||
| Support | S1 | 29.00 | -0.0689% | |
| S2 | 27.90 | -3.86% | ||
| S3 | 27.66 | -4.69% |
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