Ihlas Yayin Holding A.S. Stock Forecast
Ihlas Yayin Holding A.S. stock price fell more than -6.71% Friday closing at TRY 3.06
(Updated on May 10, 2024)
The Ihlas Yayin Holding A.S. stock price fell by -6.71% on the last day (Friday, 10th May 2024) from TRY 3.28 to TRY 3.06. During the last trading day the stock fluctuated 8.97% from a day low at TRY 3.01 to a day high of TRY 3.28. The price has been going up and down for this period, and there has been a -0.33% loss for the last 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 -1 million shares and in total, 9 million shares were bought and sold for approximately TRY 26.06 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at TRY 3.27 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -14.85% during the next 3 months and, with a 90% probability hold a price between TRY 1.81 and TRY 2.78 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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IHYAY.IS Signals & Forecast
The Ihlas Yayin Holding 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 3.10. On a fall, the stock will find some support from the long-term average at approximately TRY 2.79. 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. 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 Thursday, May 09, 2024, and so far it has fallen -6.71%. 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). 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 Ihlas Yayin Holding A.S. stock
Ihlas Yayin Holding A.S. finds support from accumulated volume at TRY 2.96 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 0.270 between high and low, or 8.97%. For the last week, the stock has had daily average volatility of 7.40%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IHYAY.IS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Ihlas Yayin Holding A.S. to open at TRY 3.12, and during the day (based on 14 day Average True Range), to move between TRY 2.88 and TRY 3.24, which gives a possible trading interval of +/-TRY 0.181 (+/-5.93%) up or down from last closing price. If Ihlas Yayin Holding A.S. takes out the full calculated possible swing range there will be an estimated 11.86% 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 3.11 (1.63%) than the support at TRY 2.96 (3.27%), 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 Ihlas Yayin Holding A.S. stock A Buy?
Ihlas Yayin Holding A.S. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -2.601 Sell Candidate Downgraded
Predicted Opening Price for Ihlas Yayin Holding A.S. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| TRY 3.12 ( 1.85%) | TRY 3.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IHYAY.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.39 | 10.68 % | |
| R2 | 3.28 | 7.30 % | ||
| R1 | 3.22 | 5.22 % | ||
| Current price: | 3.06 | |||
| Support | S1 | 3.01 | -1.52 % | |
| S2 | 2.95 | -3.60 % | ||
| S3 | 2.85 | -6.97 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.79 | 23.86 % | |
| R2 | 3.47 | 13.40 % | ||
| R1 | 3.11 | 1.63 % | ||
| Current price | 3.06 | |||
| Support | S1 | 2.96 | -3.27% | |
| S2 | 2.88 | -5.88% | ||
| S3 | 2.74 | -10.46% |
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