Iskenderun Demir ve Çelik A.S. Stock Forecast
Iskenderun Demir ve Çelik A.S. stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Apr 26, 2024)
The Iskenderun Demir ve Çelik A.S. stock price gained 3.09% on the last trading day (Friday, 26th Apr 2024), rising from TRY 34.92 to TRY 36.00. During the last trading day the stock fluctuated 3.61% from a day low at TRY 34.90 to a day high of TRY 36.16. The price has risen in 5 of the last 10 days and is up by 1.12% 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, 9 million more shares were traded than the day before. In total, 12 million shares were bought and sold for approximately TRY 436.41 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 -13.12% during the next 3 months and, with a 90% probability hold a price between TRY 26.91 and TRY 33.09 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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ISDMR.IS Signals & Forecast
Mostly positive signals in the chart today. The Iskenderun Demir ve Çelik A.S. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at TRY 34.95 and TRY 35.72. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 03, 2024, and so far it has risen 11.73%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Iskenderun Demir ve Çelik A.S. stock
Iskenderun Demir ve Çelik A.S. finds support from accumulated volume at TRY 35.78 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 1.26 between high and low, or 3.61%. For the last week, the stock has had daily average volatility of 3.68%.
Our recommended stop-loss: TRY 34.56 (-4.00%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (ISDMR.IS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Iskenderun Demir ve Çelik A.S. to open at TRY 35.69, and during the day (based on 14 day Average True Range), to move between TRY 34.80 and TRY 37.20, which gives a possible trading interval of +/-TRY 1.20 (+/-3.33%) up or down from last closing price. If Iskenderun Demir ve Çelik A.S. takes out the full calculated possible swing range there will be an estimated 6.65% 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 35.78 (0.61%) than the resistance at TRY 39.38 (9.39%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Iskenderun Demir ve Çelik 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.011 Buy Candidate Upgraded
Predicted Opening Price for Iskenderun Demir ve Çelik A.S. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| TRY 35.69 ( 0.87%) | TRY 36.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ISDMR.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 36.95 | 2.63 % | |
| R2 | 36.47 | 1.29 % | ||
| R1 | 36.17 | 0.467 % | ||
| Current price: | 36.00 | |||
| Support | S1 | 35.21 | -2.21 % | |
| S2 | 34.91 | -3.03 % | ||
| S3 | 34.43 | -4.37 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 41.52 | 15.33 % | |
| R2 | 40.32 | 12.00 % | ||
| R1 | 39.38 | 9.39 % | ||
| Current price | 36.00 | |||
| Support | S1 | 35.78 | -0.611% | |
| S2 | 34.92 | -3.00% | ||
| S3 | 34.78 | -3.39% |
FAQ
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