Margün Enerji Üretim Sanayi ve Ticaret Stock Forecast

High volatility in Margün Enerji Üretim Sanayi ve Ticaret stock price on Thursday which ended trading at TRY 25.30
(Updated on May 16, 2024)

MAGEN.IS Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -4.89%. 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). The Margün Enerji Üretim Sanayi ve Ticaret stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at TRY 24.31 and TRY 19.83. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for Margün Enerji Üretim Sanayi ve Ticaret stock

Margün Enerji Üretim Sanayi ve Ticaret finds support from accumulated volume at TRY 24.66 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved TRY 2.32 between high and low, or 10.10%. For the last week, the stock has had daily average volatility of 6.41%.

Our recommended stop-loss: TRY 24.13 (-4.61%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 7 days ago.)

Trading Expectations (MAGEN.IS) For The Upcoming Trading Day Of Friday 17th

For the upcoming trading day on Friday, 17th we expect Margün Enerji Üretim Sanayi ve Ticaret A.S. to open at TRY 24.53, and during the day (based on 14 day Average True Range), to move between TRY 23.48 and TRY 27.12, which gives a possible trading interval of +/-TRY 1.82 (+/-7.19%) up or down from last closing price. If Margün Enerji Üretim Sanayi ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 14.38% 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 25.40 (0.40%) than the support at TRY 24.66 (2.53%), 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 Margün Enerji Üretim Sanayi ve Ticaret A.S. stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Margün Enerji Üretim Sanayi ve Ticaret stock to perform well in the short-term.

Current score: 3.554 Buy Candidate Unchanged

Predicted Opening Price for Margün Enerji Üretim Sanayi ve Ticaret A.S. of Friday, May 17, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.