Karsu Tekstil Sanayii ve Ticaret A.S. Stock Forecast
Karsu Tekstil Sanayii ve Ticaret A.S. stock price down 1.16% on Monday
(Updated on May 13, 2024)
The Karsu Tekstil Sanayii ve Ticaret A.S. stock price fell by -1.16% on the last day (Monday, 13th May 2024) from TRY 37.94 to TRY 37.50. During the last trading day the stock fluctuated 5.48% from a day low at TRY 36.84 to a day high of TRY 38.86. The price has been going up and down for this period, and there has been a -1.16% loss for the last 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 -1 million shares and in total, 829 thousand shares were bought and sold for approximately TRY 31.08 million.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.11% during the next 3 months and, with a 90% probability hold a price between TRY 31.29 and TRY 43.50 at the end of this 3-month period.
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KRTEK.IS Signals & Forecast
The Karsu Tekstil Sanayii ve Ticaret 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 39.93. On a fall, the stock will find some support from the long-term average at approximately TRY 35.62. 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. 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 09, 2024, and so far it has fallen -11.01%. 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 Karsu Tekstil Sanayii ve Ticaret A.S. stock
Karsu Tekstil Sanayii ve Ticaret A.S. finds support from accumulated volume at TRY 36.38 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 2.02 between high and low, or 5.48%. For the last week, the stock has had daily average volatility of 6.68%.
Our recommended stop-loss: TRY 35.25 (-6.00%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (KRTEK.IS) For The Upcoming Trading Day Of Tuesday 14th
For the upcoming trading day on Tuesday, 14th we expect Karsu Tekstil Sanayii ve Ticaret A.S. to open at TRY 37.73, and during the day (based on 14 day Average True Range), to move between TRY 35.21 and TRY 39.79, which gives a possible trading interval of +/-TRY 2.29 (+/-6.10%) up or down from last closing price. If Karsu Tekstil Sanayii ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 12.20% 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 37.94 (1.17%) than the support at TRY 36.38 (2.99%), 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 Karsu Tekstil Sanayii ve Ticaret A.S. stock A Buy?
Karsu Tekstil 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: -0.191 Hold/Accumulate Unchanged
Predicted Opening Price for Karsu Tekstil Sanayii ve Ticaret A.S. of Tuesday, May 14, 2024
| Fair opening price May 14, 2024 | Current price |
|---|---|
| TRY 37.73 ( 0.622%) | TRY 37.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KRTEK.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.75 | 6.01 % | |
| R2 | 38.98 | 3.95 % | ||
| R1 | 38.50 | 2.68 % | ||
| Current price: | 37.50 | |||
| Support | S1 | 36.96 | -1.44 % | |
| S2 | 36.48 | -2.71 % | ||
| S3 | 35.71 | -4.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 41.40 | 10.40 % | |
| R2 | 39.54 | 5.44 % | ||
| R1 | 37.94 | 1.17 % | ||
| Current price | 37.50 | |||
| Support | S1 | 36.38 | -2.99% | |
| S2 | 36.24 | -3.36% | ||
| S3 | 34.38 | -8.32% |
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