Mega Polietilen Köpük Sanayi ve Stock Forecast

Mega Polietilen Köpük Sanayi ve stock price down 2.32% on Tuesday
(Updated on May 21, 2024)

MEGAP.IS Signals & Forecast

The Mega Polietilen Köpük 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 8.96. On a fall, the stock will find some support from the long-term average at approximately TRY 6.61. 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 Thursday, May 09, 2024, and so far it has fallen -26.20%. 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. The stock had a Golden Star Signal on Friday, April 19, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Mega Polietilen Köpük Sanayi ve stock

On the downside, the stock finds support just below today's level from accumulated volume at TRY 7.60 and TRY 6.91. 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, Mega Polietilen Köpük Sanayi ve finds support just below today's level at TRY 7.60. If this is broken, then the next support from accumulated volume will be at TRY 6.91 and TRY 6.29.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved TRY 0.510 between high and low, or 6.50%. For the last week, the stock has had daily average volatility of 9.54%.

Our recommended stop-loss: TRY 7.53 (-5.88%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 28 days ago.)

Trading Expectations (MEGAP.IS) For The Upcoming Trading Day Of Wednesday 22nd

For the upcoming trading day on Wednesday, 22nd we expect Mega Polietilen Köpük Sanayi ve Ticaret Anonim Sirketi to open at TRY 8.07, and during the day (based on 14 day Average True Range), to move between TRY 7.20 and TRY 8.80, which gives a possible trading interval of +/-TRY 0.796 (+/-9.95%) up or down from last closing price. If Mega Polietilen Köpük Sanayi ve Ticaret Anonim Sirketi takes out the full calculated possible swing range there will be an estimated 19.89% 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 8.16 (2.00%) than the support at TRY 7.60 (5.00%), 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 Mega Polietilen Köpük 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 Mega Polietilen Köpük Sanayi ve stock to perform well in the short-term.

Current score: 2.022 Buy Candidate Unchanged

Predicted Opening Price for Mega Polietilen Köpük Sanayi ve Ticaret Anonim Sirketi of Wednesday, May 22, 2024

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