Ihlas Gayrimenkul Proje Gelistirme ve Stock Forecast
Ihlas Gayrimenkul Proje Gelistirme ve stock downgraded from Strong Buy Candidate to Buy Candidate after Thursday trading session.
(Updated on May 09, 2024)
No changes to the price of Ihlas Gayrimenkul Proje Gelistirme ve stock on the last trading day (Thursday, 9th May 2024). During the last trading day the stock fluctuated 6.49% from a day low at TRY 1.85 to a day high of TRY 1.97. The price has risen in 6 of the last 10 days and is up by 26.85% over the past 2 weeks.
The stock has broken the very wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. TRY 1.89 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach TRY 2.58 sometime during the next 3 months.
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IHLGM.IS Signals & Forecast
The Ihlas Gayrimenkul Proje Gelistirme ve 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 1.68 and TRY 1.42. 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 Wednesday, May 08, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.
Support, Risk & Stop-loss for Ihlas Gayrimenkul Proje Gelistirme ve stock
On the downside, the stock finds support just below today's level from accumulated volume at TRY 1.64 and TRY 1.60. 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, Ihlas Gayrimenkul Proje Gelistirme ve finds support just below today's level at TRY 1.64. If this is broken, then the next support from accumulated volume will be at TRY 1.60 and TRY 1.52.
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 0.120 between high and low, or 6.49%. For the last week, the stock has had daily average volatility of 7.28%.
The Ihlas Gayrimenkul Proje Gelistirme ve stock is extremely overbought on RSI14 (93). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: TRY 1.83 (-3.14%) (This stock has high daily movements and this gives high risk. The RSI14 is 93 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (IHLGM.IS) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Ihlas Gayrimenkul Proje Gelistirme ve Ticaret A.S. to open at TRY 1.90, and during the day (based on 14 day Average True Range), to move between TRY 1.81 and TRY 1.97, which gives a possible trading interval of +/-TRY 0.0841 (+/-4.45%) up or down from last closing price. If Ihlas Gayrimenkul Proje Gelistirme ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 8.90% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ TRY 1.64, some TRY 0.250 (13.23%) from the current price of TRY 1.89, our system finds the risk reward attractive.
Is Ihlas Gayrimenkul Proje Gelistirme ve Ticaret A.S. stock A Buy?
Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Ihlas Gayrimenkul Proje Gelistirme ve stock to perform well in the short-term period. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 1.563 Buy Candidate Downgraded
Predicted Opening Price for Ihlas Gayrimenkul Proje Gelistirme ve Ticaret A.S. of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| TRY 1.90 ( 0.705%) | TRY 1.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IHLGM.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.02 | 7.05 % | |
| R2 | 1.98 | 4.63 % | ||
| R1 | 1.95 | 3.13 % | ||
| Current price: | 1.89 | |||
| Support | S1 | 1.86 | -1.72 % | |
| S2 | 1.83 | -3.22 % | ||
| S3 | 1.78 | -5.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 1.89 | |||
| Support | S1 | 1.64 | -13.23% | |
| S2 | 1.60 | -15.34% | ||
| S3 | 1.52 | -19.58% |
FAQ
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