Kordsa Teknik Tekstil A.S. Stock Forecast
Red day on Wednesday for Kordsa Teknik Tekstil A.S. stock after losing 1.10%
(Updated on May 08, 2024)
The Kordsa Teknik Tekstil A.S. stock price fell by -1.10% on the last day (Wednesday, 8th May 2024) from TRY 99.60 to TRY 98.50. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 2.61% from a day low at TRY 97.85 to a day high of TRY 100.40. The price has fallen in 6 of the last 10 days but is still up by 3.74% over the past 2 weeks. 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 -128 thousand shares and in total, 859 thousand shares were bought and sold for approximately TRY 84.65 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Kordsa Teknik Tekstil A.S. stock with a 90% probability to be traded between TRY 84.95 and TRY 116.04 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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KORDS.IS Signals & Forecast
The Kordsa Teknik Tekstil A.S. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately TRY 100.15. On a fall, the stock will find some support from the long-term average at approximately TRY 95.27. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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, May 02, 2024, and so far it has fallen -3.81%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Kordsa Teknik Tekstil A.S. stock
Kordsa Teknik Tekstil A.S. finds support from accumulated volume at TRY 96.00 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 2.55 between high and low, or 2.61%. For the last week, the stock has had daily average volatility of 2.93%.
Our recommended stop-loss: TRY 93.56 (-5.02%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (KORDS.IS) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Kordsa Teknik Tekstil A.S. to open at TRY 98.92, and during the day (based on 14 day Average True Range), to move between TRY 94.92 and TRY 102.08, which gives a possible trading interval of +/-TRY 3.58 (+/-3.64%) up or down from last closing price. If Kordsa Teknik Tekstil A.S. takes out the full calculated possible swing range there will be an estimated 7.28% 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 96.00 (2.54%) than the resistance at TRY 103.00 (4.57%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Kordsa Teknik Tekstil A.S. will release earnings BMO on Friday, May 10, 2024. We will update the financials statements for Kordsa Teknik Tekstil A.S., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.11% in the first trading day after earnings release.
Is Kordsa Teknik Tekstil A.S. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Kordsa Teknik Tekstil A.S. stock to perform well in the short-term period.
Current score: 1.667 Buy Candidate Unchanged
Predicted Opening Price for Kordsa Teknik Tekstil A.S. of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| TRY 98.92 ( 0.423%) | TRY 98.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KORDS.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 101.47 | 3.01 % | |
| R2 | 100.49 | 2.02 % | ||
| R1 | 99.89 | 1.41 % | ||
| Current price: | 98.50 | |||
| Support | S1 | 97.94 | -0.566 % | |
| S2 | 97.34 | -1.18 % | ||
| S3 | 96.37 | -2.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 110.80 | 12.49 % | |
| R2 | 110.00 | 11.68 % | ||
| R1 | 103.00 | 4.57 % | ||
| Current price | 98.50 | |||
| Support | S1 | 96.00 | -2.54% | |
| S2 | 95.75 | -2.79% | ||
| S3 | 91.80 | -6.80% |
KORDS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 29, 2023 | Mar 29, 2023 | Mar 29, 2023 | TRY 0.293 | 0.395% |
| 2 | Apr 04, 2022 | Apr 04, 2022 | Apr 04, 2022 | TRY 0.82 | 2.29% |
| 3 | Mar 23, 2022 | Mar 23, 2022 | Mar 23, 2022 | TRY 0.82 | 2.35% |
| 4 | Mar 26, 2020 | Mar 26, 2020 | Mar 26, 2020 | TRY 0.250 | 2.75% |
| 5 | Mar 25, 2019 | Mar 25, 2019 | Mar 25, 2019 | TRY 0.350 | 3.28% |
FAQ
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