Menderes Tekstil Sanayi ve Ticaret 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
Menderes Tekstil Sanayi ve Ticaret stock upgraded to Buy Candidate.
(Updated on May 31, 2024)
The Menderes Tekstil Sanayi ve Ticaret stock price fell by -0.700% on the last day (Friday, 31st May 2024) from TRY 14.28 to TRY 14.18. During the last trading day the stock fluctuated 3.36% from a day low at TRY 13.97 to a day high of TRY 14.44. The price has been going up and down for this period, and there has been a 4.19% gain for the last 2 weeks. 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 -729 thousand shares and in total, 3 million shares were bought and sold for approximately TRY 48.46 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 24.15% during the next 3 months and, with a 90% probability hold a price between TRY 15.10 and TRY 19.88 at the end of this 3-month period.
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MNDRS.IS Signals & Forecast
The Menderes Tekstil Sanayi ve Ticaret 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 14.59. On a fall, the stock will find some support from the long-term average at approximately TRY 13.52. 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. 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 Wednesday, May 22, 2024, and so far it has fallen -9.34%. 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 Menderes Tekstil Sanayi ve Ticaret stock
Menderes Tekstil Sanayi ve Ticaret finds support from accumulated volume at TRY 14.07 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 0.470 between high and low, or 3.36%. For the last week, the stock has had daily average volatility of 4.46%.
Our recommended stop-loss: TRY 13.34 (-5.94%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 38 days ago.)
Trading Expectations (MNDRS.IS) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Menderes Tekstil Sanayi ve Ticaret Anonim Sirketi to open at TRY 14.20, and during the day (based on 14 day Average True Range), to move between TRY 13.43 and TRY 14.93, which gives a possible trading interval of +/-TRY 0.754 (+/-5.32%) up or down from last closing price. If Menderes Tekstil Sanayi ve Ticaret Anonim Sirketi takes out the full calculated possible swing range there will be an estimated 10.64% 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 14.21 (0.21%) than the support at TRY 14.07 (0.78%), 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 Menderes Tekstil 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 Menderes Tekstil Sanayi ve Ticaret stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.012 Buy Candidate Upgraded
Predicted Opening Price for Menderes Tekstil Sanayi ve Ticaret Anonim Sirketi of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| TRY 14.20 ( 0.118%) | TRY 14.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MNDRS.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.67 | 3.43 % | |
| R2 | 14.49 | 2.17 % | ||
| R1 | 14.38 | 1.38 % | ||
| Current price: | 14.18 | |||
| Support | S1 | 14.02 | -1.15 % | |
| S2 | 13.91 | -1.93 % | ||
| S3 | 13.73 | -3.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.64 | 10.30 % | |
| R2 | 15.62 | 10.16 % | ||
| R1 | 14.21 | 0.212 % | ||
| Current price | 14.18 | |||
| Support | S1 | 14.07 | -0.776% | |
| S2 | 13.36 | -5.78% | ||
| S3 | 12.67 | -10.65% |
FAQ
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