Kütahya Porselen Sanayi Anonim Sirketi Stock Forecast
Stronger technical forecast for Kütahya Porselen Sanayi Anonim Sirketi stock price after Monday trading.
(Updated on Jun 24, 2024)
The Kütahya Porselen Sanayi Anonim Sirketi stock price gained 4.25% on the last trading day (Monday, 24th Jun 2024), rising from TRY 85.80 to TRY 89.45. During the last trading day the stock fluctuated 5.48% from a day low at TRY 89.45 to a day high of TRY 94.35. The price has fallen in 6 of the last 10 days but is still up by 7.64% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 909 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately TRY 120.96 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -18.95% during the next 3 months and, with a 90% probability hold a price between TRY 61.56 and TRY 81.11 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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KUTPO.IS Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 14.68%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Kütahya Porselen Sanayi Anonim Sirketi stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at TRY 90.79. On a fall, the stock will find some support from the short-term average at TRY 83.19. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Kütahya Porselen Sanayi Anonim Sirketi stock
Kütahya Porselen Sanayi Anonim Sirketi finds support from accumulated volume at TRY 88.45 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 4.90 between high and low, or 5.48%. For the last week, the stock has had daily average volatility of 4.75%.
Our recommended stop-loss: TRY 86.07 (-3.78%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 41 days ago.)
Trading Expectations (KUTPO.IS) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Kütahya Porselen Sanayi Anonim Sirketi to open at TRY 91.08, and during the day (based on 14 day Average True Range), to move between TRY 84.59 and TRY 94.31, which gives a possible trading interval of +/-TRY 4.86 (+/-5.44%) up or down from last closing price. If Kütahya Porselen Sanayi Anonim Sirketi takes out the full calculated possible swing range there will be an estimated 10.87% 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 88.45 (1.12%) than the resistance at TRY 101.00 (12.91%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Kütahya Porselen Sanayi Anonim Sirketi stock A Buy?
Kütahya Porselen Sanayi Anonim Sirketi 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.880 Hold/Accumulate Upgraded
Predicted Opening Price for Kütahya Porselen Sanayi Anonim Sirketi of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| TRY 91.08 ( 1.83%) | TRY 89.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KUTPO.IS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 95.98 | 7.30% |
| R2 | 94.11 | 5.21% |
| R1 | 92.96 | 3.92% |
| Price | 89.45 | |
| S1 | 89.21 | -0.267% |
| S2 | 88.06 | -1.56% |
| S3 | 86.18 | -3.65% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 108.90 | 21.74% |
| R2 | 106.00 | 18.50% |
| R1 | 101.00 | 12.91% |
| Price | 89.45 | |
| S1 | 88.45 | -1.12% |
| S2 | 84.85 | -5.14% |
| S3 | 84.40 | -5.65% |
FAQ
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