Makina Takim Endüstrisi A.S. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Makina Takim Endüstrisi A.S. stock price up 0.99% on Friday
(Updated on May 03, 2024)
The Makina Takim Endüstrisi A.S. stock price gained 0.99% on the last trading day (Friday, 3rd May 2024), rising from TRY 7.07 to TRY 7.14. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.14% from a day low at TRY 7.00 to a day high of TRY 7.22. The price has risen in 6 of the last 10 days and is up by 1.13% over the past 2 weeks. Volume fell on the last day by -6 million shares and in total, 4 million shares were bought and sold for approximately TRY 31.36 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Makina Takim Endüstrisi A.S. stock with a 90% probability to be traded between TRY 5.90 and TRY 7.59 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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MAKTK.IS Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -4.80%. 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 Makina Takim Endüstrisi A.S. 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 6.89 and TRY 6.83. 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 Makina Takim Endüstrisi A.S. stock
Makina Takim Endüstrisi A.S. finds support from accumulated volume at TRY 6.96 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 0.220 between high and low, or 3.14%. For the last week, the stock has had daily average volatility of 3.22%.
Our recommended stop-loss: TRY 6.83 (-4.32%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (MAKTK.IS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Makina Takim Endüstrisi A.S. to open at TRY 7.12, and during the day (based on 14 day Average True Range), to move between TRY 6.81 and TRY 7.47, which gives a possible trading interval of +/-TRY 0.330 (+/-4.61%) up or down from last closing price. If Makina Takim Endüstrisi A.S. takes out the full calculated possible swing range there will be an estimated 9.23% 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 7.29 (2.10%) than the support at TRY 6.96 (2.52%), 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 Makina Takim Endüstrisi A.S. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Makina Takim Endüstrisi A.S. stock to perform well in the short-term period.
Current score: 1.084 Buy Candidate Unchanged
Predicted Opening Price for Makina Takim Endüstrisi A.S. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| TRY 7.12 ( 0.280%) | TRY 7.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MAKTK.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.34 | 2.80 % | |
| R2 | 7.26 | 1.62 % | ||
| R1 | 7.20 | 0.90 % | ||
| Current price: | 7.14 | |||
| Support | S1 | 7.04 | -1.46 % | |
| S2 | 6.98 | -2.18 % | ||
| S3 | 6.90 | -3.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.75 | 8.54 % | |
| R2 | 7.30 | 2.24 % | ||
| R1 | 7.29 | 2.10 % | ||
| Current price | 7.14 | |||
| Support | S1 | 6.96 | -2.52% | |
| S2 | 6.63 | -7.14% | ||
| S3 | 6.48 | -9.24% |
FAQ
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