Merit Turizm Yatirim ve Isletme Anonim Stock Forecast

Big movements in Merit Turizm Yatirim ve Isletme Anonim stock price on Friday moving 10.03% between high and low
(Updated on May 10, 2024)

MERIT.IS Signals & Forecast

The Merit Turizm Yatirim ve Isletme Anonim 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 128.39 and TRY 115.15. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 26, 2024, and so far it has risen 38.98%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Merit Turizm Yatirim ve Isletme Anonim stock

On the downside, the stock finds support just below today's level from accumulated volume at TRY 118.00 and TRY 111.50. 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, Merit Turizm Yatirim ve Isletme Anonim finds support just below today's level at TRY 118.00. If this is broken, then the next support from accumulated volume will be at TRY 111.50 and TRY 105.90.

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 12.30 between high and low, or 10.03%. For the last week, the stock has had daily average volatility of 6.19%.

Our recommended stop-loss: TRY 127.94 (-3.66%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 28 days ago.)

Trading Expectations (MERIT.IS) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Merit Turizm Yatirim ve Isletme Anonim Sirketi to open at TRY 130.10, and during the day (based on 14 day Average True Range), to move between TRY 125.14 and TRY 140.46, which gives a possible trading interval of +/-TRY 7.66 (+/-5.77%) up or down from last closing price. If Merit Turizm Yatirim ve Isletme Anonim Sirketi takes out the full calculated possible swing range there will be an estimated 11.54% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ TRY 118.00, some TRY 14.80 (11.14%) from the current price of TRY 132.80, our system finds the risk reward attractive.

Is Merit Turizm Yatirim ve Isletme Anonim Sirketi stock A Buy?

Merit Turizm Yatirim ve Isletme Anonim holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.

Current score: 6.736 Strong Buy Candidate Upgraded

Predicted Opening Price for Merit Turizm Yatirim ve Isletme Anonim Sirketi of Monday, May 13, 2024

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