Karsan Otomotiv Sanayii ve Ticaret A.S. Stock Forecast
Stronger technical forecast for Karsan Otomotiv Sanayii ve Ticaret A.S. stock price after Thursday trading.
(Updated on Apr 18, 2024)
The Karsan Otomotiv Sanayii ve Ticaret A.S. stock price fell by -0.299% on the last day (Thursday, 18th Apr 2024) from TRY 10.05 to TRY 10.02. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 1.61% from a day low at TRY 9.94 to a day high of TRY 10.10. The price has fallen in 6 of the last 10 days and is down by -0.5% for this period. 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 -6 million shares and in total, 15 million shares were bought and sold for approximately TRY 150.17 million.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at TRY 9.53 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 8.41% during the next 3 months and, with a 90% probability hold a price between TRY 10.33 and TRY 13.37 at the end of this 3-month period.
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KARSN.IS Signals & Forecast
There are mixed signals in the stock today. The Karsan Otomotiv Sanayii ve Ticaret 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 10.23 and TRY 10.40. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Wednesday, April 03, 2024, and so far it has risen 6.60%. 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).
Support, Risk & Stop-loss for Karsan Otomotiv Sanayii ve Ticaret A.S. stock
Karsan Otomotiv Sanayii ve Ticaret A.S. finds support from accumulated volume at TRY 9.87 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 0.160 between high and low, or 1.61%. For the last week, the stock has had daily average volatility of 3.25%.
Our recommended stop-loss: TRY 9.59 (-4.28%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (KARSN.IS) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Karsan Otomotiv Sanayii ve Ticaret A.S. to open at TRY 10.02, and during the day (based on 14 day Average True Range), to move between TRY 9.58 and TRY 10.46, which gives a possible trading interval of +/-TRY 0.442 (+/-4.41%) up or down from last closing price. If Karsan Otomotiv Sanayii ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 8.82% 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 9.87 (1.50%) than the resistance at TRY 11.11 (10.88%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Karsan Otomotiv Sanayii ve Ticaret A.S. stock A Buy?
Karsan Otomotiv Sanayii ve Ticaret 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.974 Hold/Accumulate Upgraded
Predicted Opening Price for Karsan Otomotiv Sanayii ve Ticaret A.S. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| TRY 10.02 ( 0%) | TRY 10.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KARSN.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.18 | 1.60 % | |
| R2 | 10.12 | 0.99 % | ||
| R1 | 10.08 | 0.610 % | ||
| Current price: | 10.02 | |||
| Support | S1 | 9.96 | -0.610 % | |
| S2 | 9.92 | -0.99 % | ||
| S3 | 9.86 | -1.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.97 | 19.46 % | |
| R2 | 11.53 | 15.07 % | ||
| R1 | 11.11 | 10.88 % | ||
| Current price | 10.02 | |||
| Support | S1 | 9.87 | -1.50% | |
| S2 | 9.59 | -4.29% | ||
| S3 | 9.42 | -5.99% |
FAQ
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