Karsan Otomotiv Sanayii ve Ticaret A.S. Stock Forecast

Karsan Otomotiv Sanayii ve Ticaret A.S. stock price ended at TRY 15.16 on Tuesday, after gaining 4.41%.
(Updated on Apr 30, 2024)

KARSN.IS Signals & Forecast

The Karsan Otomotiv Sanayii ve Ticaret 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 13.19 and TRY 11.01. 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 61.28%. 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 Karsan Otomotiv Sanayii ve Ticaret A.S. stock

On the downside, the stock finds support just below today's level from accumulated volume at TRY 13.33 and TRY 13.00. 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, Karsan Otomotiv Sanayii ve Ticaret A.S. finds support just below today's level at TRY 13.33. If this is broken, then the next support from accumulated volume will be at TRY 13.00 and TRY 11.97.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved TRY 1.23 between high and low, or 8.34%. For the last week, the stock has had daily average volatility of 8.12%.

The Karsan Otomotiv Sanayii ve Ticaret A.S. stock is extremely overbought on RSI14 (88). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: TRY 14.67 (-3.24%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 88 and this increases the risk substantially. There is a buy signal from a pivot bottom found 15 days ago.)

Trading Expectations (KARSN.IS) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect Karsan Otomotiv Sanayii ve Ticaret A.S. to open at TRY 15.29, and during the day (based on 14 day Average True Range), to move between TRY 14.41 and TRY 15.91, which gives a possible trading interval of +/-TRY 0.749 (+/-4.94%) 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 9.88% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ TRY 13.33, some TRY 1.83 (12.07%) from the current price of TRY 15.16, our system finds the risk reward attractive.

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.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Karsan Otomotiv Sanayii ve Ticaret A.S. of Thursday, May 2, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.