IZDEMIR Enerji Elektrik Uretim A.S. Stock Forecast
IZDEMIR Enerji Elektrik Uretim A.S. stock price up 1.12% on Thursday
(Updated on Jun 06, 2024)
The IZDEMIR Enerji Elektrik Uretim A.S. stock price gained 1.12% on the last trading day (Thursday, 6th Jun 2024), rising from TRY 23.16 to TRY 23.42. During the last trading day the stock fluctuated 1.90% from a day low at TRY 23.18 to a day high of TRY 23.62. The price has fallen in 6 of the last 10 days and is down by -9.58% for this period. Volume fell on the last day by -1 million shares and in total, 2 million shares were bought and sold for approximately TRY 55.18 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at TRY 23.08 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -14.57% during the next 3 months and, with a 90% probability hold a price between TRY 19.72 and TRY 22.91 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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IZENR.IS Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 05, 2024, and so far it has risen 1.12%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The IZDEMIR Enerji Elektrik Uretim A.S. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at TRY 23.84 and TRY 26.18. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for IZDEMIR Enerji Elektrik Uretim A.S. stock
IZDEMIR Enerji Elektrik Uretim A.S. finds support from accumulated volume at TRY 23.16 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 0.440 between high and low, or 1.90%. For the last week, the stock has had daily average volatility of 3.24%.
IZDEMIR Enerji Elektrik Uretim A.S. is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IZENR.IS) For The Upcoming Trading Day Of Friday 7th
For the upcoming trading day on Friday, 7th we expect IZDEMIR Enerji Elektrik Uretim A.S. to open at TRY 23.41, and during the day (based on 14 day Average True Range), to move between TRY 22.49 and TRY 24.35, which gives a possible trading interval of +/-TRY 0.93 (+/-3.95%) up or down from last closing price. If IZDEMIR Enerji Elektrik Uretim A.S. takes out the full calculated possible swing range there will be an estimated 7.91% 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 23.16 (1.11%) than the resistance at TRY 25.22 (7.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is IZDEMIR Enerji Elektrik Uretim A.S. stock A Buy?
IZDEMIR Enerji Elektrik Uretim A.S. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.250 Sell Candidate Unchanged
Predicted Opening Price for IZDEMIR Enerji Elektrik Uretim A.S. of Friday, June 7, 2024
| Fair opening price June 7, 2024 | Current price |
|---|---|
| TRY 23.41 ( 0.0569%) | TRY 23.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IZENR.IS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.85 | 1.82% |
| R2 | 23.68 | 1.10% |
| R1 | 23.57 | 0.661% |
| Price | 23.42 | |
| S1 | 23.24 | -0.775% |
| S2 | 23.13 | -1.22% |
| S3 | 22.97 | -1.94% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 28.04 | 19.73% |
| R2 | 26.68 | 13.92% |
| R1 | 25.22 | 7.69% |
| Price | 23.42 | |
| S1 | 23.16 | -1.11% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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