Manas Enerji Yonetimi Sanayi Ve Ticaret Stock Forecast
Manas Enerji Yonetimi Sanayi Ve Ticaret stock downgraded from Strong Buy Candidate to Buy Candidate after Friday trading session.
(Updated on Jun 21, 2024)
The Manas Enerji Yonetimi Sanayi Ve Ticaret stock price fell by -1.18% on the last day (Friday, 21st Jun 2024) from TRY 11.87 to TRY 11.73. During the last trading day the stock fluctuated 3.99% from a day low at TRY 11.54 to a day high of TRY 12.00. The price has fallen in 6 of the last 10 days but is still up by 7.81% over the past 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, 3 million shares were bought and sold for approximately TRY 36.76 million.
The stock lies in the upper part of a wide and strong rising 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 11.90 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 14.16% during the next 3 months and, with a 90% probability hold a price between TRY 11.26 and TRY 13.58 at the end of this 3-month period.
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MANAS.IS Signals & Forecast
The Manas Enerji Yonetimi 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 11.07 and TRY 10.35. A breakdown below any of these levels will issue sell signals. 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 Thursday, June 20, 2024, and so far it has fallen -1.18%. 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 Manas Enerji Yonetimi Sanayi Ve Ticaret stock
Manas Enerji Yonetimi Sanayi Ve Ticaret finds support from accumulated volume at TRY 11.35 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 0.460 between high and low, or 3.99%. For the last week, the stock has had daily average volatility of 6.70%.
Our recommended stop-loss: TRY 11.28 (-3.87%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 34 days ago.)
Trading Expectations (MANAS.IS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Manas Enerji Yonetimi Sanayi Ve Ticaret Anonim Sirketi to open at TRY 11.76, and during the day (based on 14 day Average True Range), to move between TRY 11.16 and TRY 12.30, which gives a possible trading interval of +/-TRY 0.572 (+/-4.87%) up or down from last closing price. If Manas Enerji Yonetimi Sanayi Ve Ticaret Anonim Sirketi takes out the full calculated possible swing range there will be an estimated 9.75% 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 11.87 (1.19%) than the support at TRY 11.35 (3.24%), 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 Manas Enerji Yonetimi Sanayi Ve Ticaret Anonim Sirketi 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 Manas Enerji Yonetimi Sanayi Ve Ticaret stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 3.834 Buy Candidate Downgraded
Predicted Opening Price for Manas Enerji Yonetimi Sanayi Ve Ticaret Anonim Sirketi of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| TRY 11.76 ( 0.227%) | TRY 11.73 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MANAS.IS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.22 | 4.15% |
| R2 | 12.04 | 2.65% |
| R1 | 11.93 | 1.73% |
| Price | 11.73 | |
| S1 | 11.58 | -1.27% |
| S2 | 11.47 | -2.20% |
| S3 | 11.30 | -3.69% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 11.87 | 1.19% |
| Price | 11.73 | |
| S1 | 11.35 | -3.24% |
| S2 | 11.03 | -5.97% |
| S3 | 10.43 | -11.08% |
FAQ
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