ICBC Turkey Bank A.S. Stock Forecast
Red day on Thursday for ICBC Turkey Bank A.S.
(Updated on Apr 18, 2024)
The ICBC Turkey Bank A.S. stock price fell by -0.310% on the last day (Thursday, 18th Apr 2024) from TRY 16.12 to TRY 16.07. During the last trading day the stock fluctuated 2.71% from a day low at TRY 15.85 to a day high of TRY 16.28. The price has risen in 6 of the last 10 days and is up by 8.95% over the past 2 weeks. 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 -831 thousand shares and in total, 926 thousand shares were bought and sold for approximately TRY 14.88 million.
The stock lies in the middle of a 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 -15.63% during the next 3 months and, with a 90% probability hold a price between TRY 11.82 and TRY 14.12 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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ICBCT.IS Signals & Forecast
The ICBC Turkey Bank 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 15.99 and TRY 15.57. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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, April 15, 2024, and so far it has fallen -1.59%. Further fall is indicated until a new bottom pivot has been found. 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 ICBC Turkey Bank A.S. stock
ICBC Turkey Bank A.S. finds support from accumulated volume at TRY 15.95 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 0.430 between high and low, or 2.71%. For the last week, the stock has had daily average volatility of 4.03%.
Our recommended stop-loss: TRY 15.40 (-4.18%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (ICBCT.IS) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect ICBC Turkey Bank A.S. to open at TRY 16.07, and during the day (based on 14 day Average True Range), to move between TRY 15.36 and TRY 16.78, which gives a possible trading interval of +/-TRY 0.705 (+/-4.39%) up or down from last closing price. If ICBC Turkey Bank A.S. takes out the full calculated possible swing range there will be an estimated 8.78% 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 15.95 (0.75%) than the resistance at TRY 17.48 (8.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ICBC Turkey Bank A.S. 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: 2.218 Buy Candidate Unchanged
Predicted Opening Price for ICBC Turkey Bank A.S. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| TRY 16.07 ( 0.0207%) | TRY 16.07 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ICBCT.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.50 | 2.66 % | |
| R2 | 16.33 | 1.63 % | ||
| R1 | 16.23 | 1.00 % | ||
| Current price: | 16.07 | |||
| Support | S1 | 15.90 | -1.04 % | |
| S2 | 15.80 | -1.67 % | ||
| S3 | 15.64 | -2.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.78 | 10.64 % | |
| R2 | 17.72 | 10.27 % | ||
| R1 | 17.48 | 8.77 % | ||
| Current price | 16.07 | |||
| Support | S1 | 15.95 | -0.747% | |
| S2 | 15.46 | -3.80% | ||
| S3 | 15.29 | -4.85% |
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