MMC Sanayi Ve Ticari Yatirimlar A.S. Stock Forecast
MMC Sanayi Ve Ticari Yatirimlar A.S. stock price ended at TRY 12.51 on Monday, after losing 0.0799%.
(Updated on Apr 22, 2024)
The MMC Sanayi Ve Ticari Yatirimlar A.S. stock price fell by -0.0799% on the last day (Monday, 22nd Apr 2024) from TRY 12.52 to TRY 12.51. During the last trading day the stock fluctuated 4.33% from a day low at TRY 12.00 to a day high of TRY 12.52. The price has fallen in 6 of the last 10 days and is down by -7.68% for this period. 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 -62 thousand shares and in total, 215 thousand shares were bought and sold for approximately TRY 2.69 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at TRY 11.58 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 11.91% during the next 3 months and, with a 90% probability hold a price between TRY 12.96 and TRY 21.88 at the end of this 3-month period.
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MMCAS.IS Signals & Forecast
There are mixed signals in the stock today. The MMC Sanayi Ve Ticari Yatirimlar A.S. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at TRY 14.22. On a fall, the stock will find some support from the short-term average at TRY 12.34. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, March 08, 2024, and so far it has fallen -32.74%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 MMC Sanayi Ve Ticari Yatirimlar A.S. stock
MMC Sanayi Ve Ticari Yatirimlar A.S. finds support from accumulated volume at TRY 12.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 0.520 between high and low, or 4.33%. For the last week, the stock has had daily average volatility of 6.96%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MMCAS.IS) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect MMC Sanayi Ve Ticari Yatirimlar A.S. to open at TRY 12.34, and during the day (based on 14 day Average True Range), to move between TRY 11.50 and TRY 13.52, which gives a possible trading interval of +/-TRY 1.01 (+/-8.10%) up or down from last closing price. If MMC Sanayi Ve Ticari Yatirimlar A.S. takes out the full calculated possible swing range there will be an estimated 16.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at TRY 12.40 (0.88%) than the resistance at TRY 14.41 (15.19%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is MMC Sanayi Ve Ticari Yatirimlar A.S. stock A Buy?
MMC Sanayi Ve Ticari Yatirimlar A.S. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -4.805 Sell Candidate Unchanged
Predicted Opening Price for MMC Sanayi Ve Ticari Yatirimlar A.S. of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| TRY 12.34 ( 1.33%) | TRY 12.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MMCAS.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.86 | 2.82 % | |
| R2 | 12.66 | 1.24 % | ||
| R1 | 12.54 | 0.256 % | ||
| Current price: | 12.51 | |||
| Support | S1 | 12.14 | -2.92 % | |
| S2 | 12.02 | -3.90 % | ||
| S3 | 11.82 | -5.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.56 | 24.38 % | |
| R2 | 15.49 | 23.82 % | ||
| R1 | 14.41 | 15.19 % | ||
| Current price | 12.51 | |||
| Support | S1 | 12.40 | -0.88% | |
| S2 | 11.70 | -6.47% | ||
| S3 | 11.44 | -8.55% |
FAQ
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