Kent Gida Maddeleri Sanayii ve Ticaret Stock Forecast
Green day on Friday for Kent Gida Maddeleri Sanayii ve Ticaret stock after gaining 2.69%
(Updated on May 17, 2024)
The Kent Gida Maddeleri Sanayii ve Ticaret stock price gained 2.69% on the last trading day (Friday, 17th May 2024), rising from TRY 1,375.00 to TRY 1,412.00. During the last trading day the stock fluctuated 7.77% from a day low at TRY 1,390.00 to a day high of TRY 1,498.00. The price has fallen in 7 of the last 10 days and is down by -4.34% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 thousand more shares were traded than the day before. In total, 11 thousand shares were bought and sold for approximately TRY 15.37 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at TRY 1,347.73 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 93.26% during the next 3 months and, with a 90% probability hold a price between TRY 2,604.67 and TRY 3,410.10 at the end of this 3-month period.
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KENT.IS Signals & Forecast
The Kent Gida Maddeleri Sanayii ve Ticaret 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 1,381.29 and TRY 1,334.20. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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, April 25, 2024, and so far it has fallen -8.79%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Kent Gida Maddeleri Sanayii ve Ticaret stock
Kent Gida Maddeleri Sanayii ve Ticaret finds support from accumulated volume at TRY 1,376.00 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 108.00 between high and low, or 7.77%. For the last week, the stock has had daily average volatility of 6.30%.
Our recommended stop-loss: TRY 1,342.55 (-4.92%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (KENT.IS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Kent Gida Maddeleri Sanayii ve Ticaret A.S. to open at TRY 1,433.33, and during the day (based on 14 day Average True Range), to move between TRY 1,316.90 and TRY 1,507.10, which gives a possible trading interval of +/-TRY 95.10 (+/-6.74%) up or down from last closing price. If Kent Gida Maddeleri Sanayii ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 13.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at TRY 1,418.00 (0.42%) than the support at TRY 1,376.00 (2.55%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Kent Gida Maddeleri Sanayii ve Ticaret A.S. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Kent Gida Maddeleri Sanayii ve Ticaret stock to perform well in the short-term.
Current score: 2.850 Buy Candidate Unchanged
Predicted Opening Price for Kent Gida Maddeleri Sanayii ve Ticaret A.S. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| TRY 1,433.33 ( 1.51%) | TRY 1,412.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KENT.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,541.33 | 9.16 % | |
| R2 | 1,500.08 | 6.24 % | ||
| R1 | 1,474.59 | 4.43 % | ||
| Current price: | 1,412.00 | |||
| Support | S1 | 1,392.08 | -1.41 % | |
| S2 | 1,366.59 | -3.22 % | ||
| S3 | 1,325.33 | -6.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,548.00 | 9.63 % | |
| R2 | 1,450.00 | 2.69 % | ||
| R1 | 1,418.00 | 0.425 % | ||
| Current price | 1,412.00 | |||
| Support | S1 | 1,376.00 | -2.55% | |
| S2 | 1,375.00 | -2.62% | ||
| S3 | 1,087.00 | -23.02% |
FAQ
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