Metro Ticari ve Mali Yatirimlar Holding 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
Green day on Friday for Metro Ticari ve Mali Yatirimlar Holding stock after gaining 0.643%
(Updated on May 03, 2024)
The Metro Ticari ve Mali Yatirimlar Holding stock price gained 0.643% on the last trading day (Friday, 3rd May 2024), rising from TRY 3.11 to TRY 3.13. During the last trading day the stock fluctuated 3.28% from a day low at TRY 3.05 to a day high of TRY 3.15. The price has risen in 7 of the last 10 days and is up by 20.38% 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, 1 million more shares were traded than the day before. In total, 10 million shares were bought and sold for approximately TRY 29.93 million.
The stock has broken the very wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. TRY 2.97 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach TRY 3.60 sometime during the next 3 months.
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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 3.02 and TRY 2.61. 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 34.33%. 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
On the downside, the stock finds support just below today's level from accumulated volume at TRY 2.87 and TRY 2.75. 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, Metro Ticari ve Mali Yatirimlar Holding finds support just below today's level at TRY 2.87. If this is broken, then the next support from accumulated volume will be at TRY 2.75 and TRY 2.71.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved TRY 0.100 between high and low, or 3.28%. For the last week, the stock has had daily average volatility of 5.31%.
The Metro Ticari ve Mali Yatirimlar Holding stock is extremely overbought on RSI14 (83). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: TRY 3.03 (-3.34%) (This stock has high daily movements and this gives high risk. The RSI14 is 83 and this increases the risk substantially. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (METRO.IS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Metro Ticari ve Mali Yatirimlar Holding A.S. to open at TRY 3.11, and during the day (based on 14 day Average True Range), to move between TRY 3.01 and TRY 3.25, which gives a possible trading interval of +/-TRY 0.125 (+/-3.98%) 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 7.96% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ TRY 2.87, some TRY 0.260 (8.31%) from the current price of TRY 3.13, our system finds the risk reward attractive.
Is Metro Ticari ve Mali Yatirimlar Holding A.S. stock A Buy?
Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Metro Ticari ve Mali Yatirimlar Holding stock to perform well in the short-term period.
Current score: 3.787 Buy Candidate Unchanged
Predicted Opening Price for Metro Ticari ve Mali Yatirimlar Holding A.S. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| TRY 3.11 ( 0.639%) | TRY 3.13 |
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 | 3.21 | 2.56 % | |
| R2 | 3.17 | 1.34 % | ||
| R1 | 3.15 | 0.581 % | ||
| Current price: | 3.13 | |||
| Support | S1 | 3.07 | -1.86 % | |
| S2 | 3.05 | -2.61 % | ||
| S3 | 3.01 | -3.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 3.13 | |||
| Support | S1 | 2.87 | -8.31% | |
| S2 | 2.75 | -12.14% | ||
| S3 | 2.71 | -13.42% |
FAQ
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