Kardemir Karabük Demir Çelik Sanayi Ve Stock Forecast
Evaluation of Kardemir Karabük Demir Çelik Sanayi Ve stock downgraded after the last trading session.
(Updated on Jun 26, 2024)
The Kardemir Karabük Demir Çelik Sanayi Ve stock price fell by -1.17% on the last day (Wednesday, 26th Jun 2024) from TRY 22.16 to TRY 21.90. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.44% from a day low at TRY 21.54 to a day high of TRY 22.28. The price has risen in 6 of the last 10 days and is up by 0.09% 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 -3 million shares and in total, 1 million shares were bought and sold for approximately TRY 28.98 million.
The stock lies in the lower part of a 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 21.76 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 32.09% during the next 3 months and, with a 90% probability hold a price between TRY 28.75 and TRY 33.94 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
KRDMB.IS Signals & Forecast
There are few to no technical positive signals at the moment. The Kardemir Karabük Demir Çelik Sanayi Ve stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at TRY 22.33 and TRY 22.05. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -5.77%. 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). 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 Kardemir Karabük Demir Çelik Sanayi Ve stock
On the downside, the stock finds support just below today's level from accumulated volume at TRY 20.72 and TRY 19.03. 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, Kardemir Karabük Demir Çelik Sanayi Ve finds support just below today's level at TRY 20.72. If this is broken, then the next support from accumulated volume will be at TRY 19.03 and TRY 17.94.
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 0.740 between high and low, or 3.44%. For the last week, the stock has had daily average volatility of 2.90%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KRDMB.IS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Kardemir Karabük Demir Çelik Sanayi Ve Ticaret A.S. to open at TRY 21.91, and during the day (based on 14 day Average True Range), to move between TRY 21.17 and TRY 22.63, which gives a possible trading interval of +/-TRY 0.729 (+/-3.33%) up or down from last closing price. If Kardemir Karabük Demir Çelik Sanayi Ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 6.66% 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 22.16 (1.19%) than the support at TRY 20.72 (5.39%), 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 Kardemir Karabük Demir Çelik Sanayi Ve Ticaret A.S. stock A Buy?
The Kardemir Karabük Demir Çelik Sanayi Ve stock holds several negative signals and despite the positive trend, we believe Kardemir Karabük Demir Çelik Sanayi Ve will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -4.205 Sell Candidate Downgraded
Predicted Opening Price for Kardemir Karabük Demir Çelik Sanayi Ve Ticaret A.S. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| TRY 21.91 ( 0.0304%) | TRY 21.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KRDMB.IS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.65 | 3.41% |
| R2 | 22.36 | 2.12% |
| R1 | 22.19 | 1.32% |
| Price | 21.90 | |
| S1 | 21.62 | -1.26% |
| S2 | 21.45 | -2.06% |
| S3 | 21.17 | -3.35% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.84 | 4.29% |
| R2 | 22.58 | 3.11% |
| R1 | 22.16 | 1.19% |
| Price | 21.90 | |
| S1 | 20.72 | -5.39% |
| S2 | 19.03 | -13.11% |
| S3 | 17.94 | -18.08% |
FAQ
Click here for our free guide on how to buy Kardemir Karabük Demir Çelik Sanayi Ve Ticaret A.S. Stock.
