Metro Ticari ve Mali Yatirimlar Holding Stock Forecast
Metro Ticari ve Mali Yatirimlar Holding stock upgraded to Strong Buy Candidate.
(Updated on Apr 24, 2024)
The Metro Ticari ve Mali Yatirimlar Holding stock price gained 4.74% on the last trading day (Wednesday, 24th Apr 2024), rising from TRY 2.74 to TRY 2.87. 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 8.39% from a day low at TRY 2.74 to a day high of TRY 2.97. The price has risen in 6 of the last 10 days and is up by 16.19% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 million more shares were traded than the day before. In total, 23 million shares were bought and sold for approximately TRY 64.94 million.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is TRY 2.86, a level that may pose a second chance to hit a runner. According to fan-theory TRY 3.42 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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METRO.IS Signals & Forecast
Mostly positive signals in the chart today. The Metro Ticari ve Mali Yatirimlar Holding 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 2.66 and TRY 2.56. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 03, 2024, and so far it has risen 23.18%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Metro Ticari ve Mali Yatirimlar Holding stock
Metro Ticari ve Mali Yatirimlar Holding finds support from accumulated volume at TRY 2.75 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 0.230 between high and low, or 8.39%. For the last week, the stock has had daily average volatility of 4.87%.
Our recommended stop-loss: TRY 2.77 (-3.50%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (METRO.IS) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Metro Ticari ve Mali Yatirimlar Holding A.S. to open at TRY 2.86, and during the day (based on 14 day Average True Range), to move between TRY 2.76 and TRY 2.98, which gives a possible trading interval of +/-TRY 0.107 (+/-3.73%) up or down from last closing price. If Metro Ticari ve Mali Yatirimlar Holding A.S. takes out the full calculated possible swing range there will be an estimated 7.45% 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 2.96 (3.14%) than the support at TRY 2.75 (4.18%), 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 Metro Ticari ve Mali Yatirimlar Holding A.S. stock A Buy?
Metro Ticari ve Mali Yatirimlar Holding holds several positive signals and the break up from the falling trend indicates a possible shift of trend as well. The trend doesn't have to go from falling to rising, it may as well go horizontal or even just decrease the earlier fall rate, but we find the risk-reward to be attractive and expect the stock to perform very well in the short term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.508 Strong Buy Candidate Upgraded
Predicted Opening Price for Metro Ticari ve Mali Yatirimlar Holding A.S. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| TRY 2.86 ( 0.348%) | TRY 2.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for METRO.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.09 | 7.67 % | |
| R2 | 3.00 | 4.60 % | ||
| R1 | 2.95 | 2.71 % | ||
| Current price: | 2.87 | |||
| Support | S1 | 2.77 | -3.41 % | |
| S2 | 2.72 | -5.30 % | ||
| S3 | 2.63 | -8.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 2.96 | 3.14 % | ||
| Current price | 2.87 | |||
| Support | S1 | 2.75 | -4.18% | |
| S2 | 2.71 | -5.57% | ||
| S3 | 2.47 | -13.94% |
FAQ
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