Izmir Demir Çelik Sanayi Anonim Sirketi Stock Forecast
On Thursday, Izmir Demir Çelik Sanayi Anonim Sirketi stock price gained an impressive 6.55%
(Updated on May 02, 2024)
The Izmir Demir Çelik Sanayi Anonim Sirketi stock price gained 6.55% on the last trading day (Thursday, 2nd May 2024), rising from TRY 7.33 to TRY 7.81. During the last trading day the stock fluctuated 5.95% from a day low at TRY 7.39 to a day high of TRY 7.83. The price has risen in 7 of the last 10 days and is up by 17.62% 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, 877 thousand more shares were traded than the day before. In total, 22 million shares were bought and sold for approximately TRY 174.31 million.
The stock has broken the wide and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at TRY 7.31, a level that may pose a second chance to hit a runner. According to fan-theory TRY 8.23 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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IZMDC.IS Signals & Forecast
Mostly positive signals in the chart today. The Izmir Demir Çelik Sanayi Anonim Sirketi 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 7.54 and TRY 6.77. 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 25.76%. 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 Izmir Demir Çelik Sanayi Anonim Sirketi stock
On the downside, the stock finds support just below today's level from accumulated volume at TRY 6.77 and TRY 6.60. 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, Izmir Demir Çelik Sanayi Anonim Sirketi finds support just below today's level at TRY 6.77. If this is broken, then the next support from accumulated volume will be at TRY 6.60 and TRY 6.52.
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 5.95%. For the last week, the stock has had daily average volatility of 4.63%.
Our recommended stop-loss: TRY 7.52 (-3.68%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (IZMDC.IS) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Izmir Demir Çelik Sanayi Anonim Sirketi to open at TRY 7.68, and during the day (based on 14 day Average True Range), to move between TRY 7.47 and TRY 8.15, which gives a possible trading interval of +/-TRY 0.343 (+/-4.40%) up or down from last closing price. If Izmir Demir Çelik Sanayi Anonim Sirketi takes out the full calculated possible swing range there will be an estimated 8.79% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ TRY 6.77, some TRY 1.04 (13.32%) from the current price of TRY 7.81, our system finds the risk reward attractive.
Is Izmir Demir Çelik Sanayi Anonim Sirketi stock A Buy?
Several short-term signals are positive and the stock has broke the rising 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 Izmir Demir Çelik Sanayi Anonim Sirketi stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Buy candidate.
Current score: 5.868 Strong Buy Candidate Upgraded
Predicted Opening Price for Izmir Demir Çelik Sanayi Anonim Sirketi of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| TRY 7.68 ( 1.71%) | TRY 7.81 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IZMDC.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.12 | 3.93 % | |
| R2 | 7.95 | 1.77 % | ||
| R1 | 7.84 | 0.445 % | ||
| Current price: | 7.81 | |||
| Support | S1 | 7.51 | -3.86 % | |
| S2 | 7.40 | -5.19 % | ||
| S3 | 7.24 | -7.34 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 7.81 | |||
| Support | S1 | 6.77 | -13.32% | |
| S2 | 6.60 | -15.49% | ||
| S3 | 6.52 | -16.52% |
FAQ
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