Makim Makina Teknolojileri Sanayi Ve Stock Forecast
Makim Makina Teknolojileri Sanayi Ve stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)
The Makim Makina Teknolojileri Sanayi Ve stock price fell by -3.24% on the last day (Friday, 28th Jun 2024) from TRY 33.90 to TRY 32.80. During the last trading day the stock fluctuated 5.62% from a day low at TRY 32.40 to a day high of TRY 34.22. The price has been going up and down for this period, and there has been a 4.26% 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 -518 thousand shares and in total, 610 thousand shares were bought and sold for approximately TRY 20.02 million.
The stock lies in the middle of a wide and strong 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 29.59% during the next 3 months and, with a 90% probability hold a price between TRY 37.73 and TRY 47.13 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.
MAKIM.IS Signals & Forecast
The Makim Makina Teknolojileri Sanayi Ve 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 33.39. On a fall, the stock will find some support from the long-term average at approximately TRY 30.18. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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, June 21, 2024, and so far it has fallen -7.97%. Further fall is indicated until a new bottom pivot has been found. 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 Makim Makina Teknolojileri Sanayi Ve stock
On the downside, the stock finds support just below today's level from accumulated volume at TRY 30.24 and TRY 29.10. 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, Makim Makina Teknolojileri Sanayi Ve finds support just below today's level at TRY 30.24. If this is broken, then the next support from accumulated volume will be at TRY 29.10 and TRY 28.82.
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 1.82 between high and low, or 5.62%. For the last week, the stock has had daily average volatility of 8.01%.
Our recommended stop-loss: TRY 30.87 (-5.88%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 54 days ago.)
Trading Expectations (MAKIM.IS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Makim Makina Teknolojileri Sanayi Ve Ticaret A.S. to open at TRY 33.14, and during the day (based on 14 day Average True Range), to move between TRY 30.57 and TRY 35.03, which gives a possible trading interval of +/-TRY 2.23 (+/-6.81%) up or down from last closing price. If Makim Makina Teknolojileri Sanayi Ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 13.62% 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 33.90 (3.35%) than the support at TRY 30.24 (7.80%), 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 Makim Makina Teknolojileri Sanayi Ve Ticaret A.S. stock A Buy?
Makim Makina Teknolojileri Sanayi Ve 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. 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 Hold/Accumulate candidate.
Current score: -0.160 Hold/Accumulate Downgraded
Predicted Opening Price for Makim Makina Teknolojileri Sanayi Ve Ticaret A.S. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| TRY 33.14 ( 1.04%) | TRY 32.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MAKIM.IS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 34.96 | 6.59% |
| R2 | 34.26 | 4.47% |
| R1 | 33.84 | 3.16% |
| Price | 32.80 | |
| S1 | 32.44 | -1.08% |
| S2 | 32.02 | -2.39% |
| S3 | 31.32 | -4.51% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 35.64 | 8.66% |
| R2 | 34.94 | 6.52% |
| R1 | 33.90 | 3.35% |
| Price | 32.80 | |
| S1 | 30.24 | -7.80% |
| S2 | 29.10 | -11.28% |
| S3 | 28.82 | -12.13% |
FAQ
Click here for our free guide on how to buy Makim Makina Teknolojileri Sanayi Ve Ticaret A.S. Stock.
