Iskenderun Demir ve Çelik A.S. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Iskenderun Demir ve Çelik A.S. stock downgraded from Buy Candidate to Hold/Accumulate after Monday trading session.
(Updated on May 06, 2024)
The Iskenderun Demir ve Çelik A.S. stock price fell by -1.74% on the last day (Monday, 6th May 2024) from TRY 37.86 to TRY 37.20. During the last trading day the stock fluctuated 2.53% from a day low at TRY 37.12 to a day high of TRY 38.06. The price has risen in 5 of the last 10 days and is up by 8.27% 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 -920 thousand shares and in total, 3 million shares were bought and sold for approximately TRY 105.99 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 38.22 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 -14.05% during the next 3 months and, with a 90% probability hold a price between TRY 26.03 and TRY 32.86 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
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. 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 37.05 and TRY 35.56. 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 Thursday, May 02, 2024, and so far it has fallen -3.23%. 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 Iskenderun Demir ve Çelik A.S. stock
Iskenderun Demir ve Çelik A.S. finds support from accumulated volume at TRY 36.90 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 0.94 between high and low, or 2.53%. For the last week, the stock has had daily average volatility of 3.75%.
Our recommended stop-loss: TRY 35.32 (-5.04%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (ISDMR.IS) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Iskenderun Demir ve Çelik A.S. to open at TRY 37.46, and during the day (based on 14 day Average True Range), to move between TRY 35.90 and TRY 38.50, which gives a possible trading interval of +/-TRY 1.30 (+/-3.49%) 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 6.98% 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 36.90 (0.81%) than the resistance at TRY 39.38 (5.86%), 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?
Iskenderun Demir ve Çelik A.S. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.455 Hold/Accumulate Downgraded
Predicted Opening Price for Iskenderun Demir ve Çelik A.S. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| TRY 37.46 ( 0.699%) | TRY 37.20 |
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 | 38.40 | 3.23 % | |
| R2 | 38.04 | 2.26 % | ||
| R1 | 37.82 | 1.66 % | ||
| Current price: | 37.20 | |||
| Support | S1 | 37.10 | -0.266 % | |
| S2 | 36.88 | -0.86 % | ||
| S3 | 36.52 | -1.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 41.52 | 11.61 % | |
| R2 | 40.32 | 8.39 % | ||
| R1 | 39.38 | 5.86 % | ||
| Current price | 37.20 | |||
| Support | S1 | 36.90 | -0.81% | |
| S2 | 36.00 | -3.23% | ||
| S3 | 34.92 | -6.13% |
FAQ
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