Kuyumcukent Gayrimenkul Yatirimlari A.S. Stock Forecast
Weaker technical forecast for Kuyumcukent Gayrimenkul Yatirimlari A.S. as stock downgraded to Sell Candidate.
(Updated on May 20, 2024)
The Kuyumcukent Gayrimenkul Yatirimlari A.S. stock price fell by -2.73% on the last day (Monday, 20th May 2024) from TRY 55.00 to TRY 53.50. During the last trading day the stock fluctuated 2.80% from a day low at TRY 53.50 to a day high of TRY 55.00. The price has been going up and down for this period, and there has been a 7% gain 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, 1 million shares were bought and sold for approximately TRY 56.66 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at TRY 55.93 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -2.04% during the next 3 months and, with a 90% probability hold a price between TRY 42.04 and TRY 54.79 at the end of this 3-month period.
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KUYAS.IS Signals & Forecast
The Kuyumcukent Gayrimenkul Yatirimlari 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 55.27. On a fall, the stock will find some support from the long-term average at approximately TRY 49.11. 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 Friday, May 10, 2024, and so far it has fallen -4.55%. 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 Kuyumcukent Gayrimenkul Yatirimlari A.S. stock
On the downside, the stock finds support just below today's level from accumulated volume at TRY 50.00 and TRY 47.98. 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, Kuyumcukent Gayrimenkul Yatirimlari A.S. finds support just below today's level at TRY 50.00. If this is broken, then the next support from accumulated volume will be at TRY 47.98 and TRY 45.12.
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 1.50 between high and low, or 2.80%. For the last week, the stock has had daily average volatility of 3.82%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KUYAS.IS) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Kuyumcukent Gayrimenkul Yatirimlari A.S. to open at TRY 54.00, and during the day (based on 14 day Average True Range), to move between TRY 51.32 and TRY 55.68, which gives a possible trading interval of +/-TRY 2.18 (+/-4.07%) up or down from last closing price. If Kuyumcukent Gayrimenkul Yatirimlari A.S. takes out the full calculated possible swing range there will be an estimated 8.14% 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 55.00 (2.80%) than the support at TRY 50.00 (6.54%), 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 Kuyumcukent Gayrimenkul Yatirimlari A.S. stock A Buy?
Kuyumcukent Gayrimenkul Yatirimlari A.S. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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 Hold/Accumulate to a Sell candidate.
Current score: -1.371 Sell Candidate Downgraded
Predicted Opening Price for Kuyumcukent Gayrimenkul Yatirimlari A.S. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| TRY 54.00 ( 0.93%) | TRY 53.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KUYAS.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 55.50 | 3.74 % | |
| R2 | 54.93 | 2.67 % | ||
| R1 | 54.57 | 2.01 % | ||
| Current price: | 53.50 | |||
| Support | S1 | 53.43 | -0.136 % | |
| S2 | 53.07 | -0.798 % | ||
| S3 | 52.50 | -1.87 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 58.00 | 8.41 % | |
| R2 | 56.00 | 4.67 % | ||
| R1 | 55.00 | 2.80 % | ||
| Current price | 53.50 | |||
| Support | S1 | 50.00 | -6.54% | |
| S2 | 47.98 | -10.32% | ||
| S3 | 45.12 | -15.66% |
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