Matriks Bilgi Dagitim Hizmetleri A.S. Stock Forecast
A very red day for Matriks Bilgi Dagitim Hizmetleri A.S. stock price after a -5.72% fall in the Friday trading session
(Updated on May 31, 2024)
The Matriks Bilgi Dagitim Hizmetleri A.S. stock price fell by -5.72% on the last day (Friday, 31st May 2024) from TRY 76.90 to TRY 72.50. During the last trading day the stock fluctuated 7.31% from a day low at TRY 72.50 to a day high of TRY 77.80. The price has been going up and down for this period, and there has been a -13.69% loss 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 -230 thousand shares and in total, 1 million shares were bought and sold for approximately TRY 72.53 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -6.63% during the next 3 months and, with a 90% probability hold a price between TRY 48.60 and TRY 77.50 at the end of this 3-month period.
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MTRKS.IS Signals & Forecast
The Matriks Bilgi Dagitim Hizmetleri A.S. 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 76.49. On a fall, the stock will find some support from the long-term average at approximately TRY 71.96. 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 Friday, May 17, 2024, and so far it has fallen -13.69%. 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 Matriks Bilgi Dagitim Hizmetleri A.S. stock
On the downside, the stock finds support just below today's level from accumulated volume at TRY 68.45 and TRY 61.65. 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, Matriks Bilgi Dagitim Hizmetleri A.S. finds support just below today's level at TRY 68.45. If this is broken, then the next support from accumulated volume will be at TRY 61.65 and TRY 56.70.
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 5.30 between high and low, or 7.31%. For the last week, the stock has had daily average volatility of 6.92%.
Our recommended stop-loss: TRY 68.05 (-6.14%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (MTRKS.IS) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Matriks Bilgi Dagitim Hizmetleri A.S. to open at TRY 74.27, and during the day (based on 14 day Average True Range), to move between TRY 67.21 and TRY 77.79, which gives a possible trading interval of +/-TRY 5.29 (+/-7.30%) up or down from last closing price. If Matriks Bilgi Dagitim Hizmetleri A.S. takes out the full calculated possible swing range there will be an estimated 14.59% 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 75.25 (3.79%) than the support at TRY 68.45 (5.59%), 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 Matriks Bilgi Dagitim Hizmetleri A.S. stock A Buy?
Matriks Bilgi Dagitim Hizmetleri A.S. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.680 Hold/Accumulate Unchanged
Predicted Opening Price for Matriks Bilgi Dagitim Hizmetleri A.S. of Monday, June 3, 2024
Fair opening price June 3, 2024 | Current price |
---|---|
TRY 74.27 ( 2.44%) | TRY 72.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MTRKS.IS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 79.57 | 9.75 % | |
R2 | 77.54 | 6.95 % | ||
R1 | 76.29 | 5.23 % | ||
Current price: | 72.50 | |||
Support | S1 | 72.24 | -0.356 % | |
S2 | 70.99 | -2.08 % | ||
S3 | 68.97 | -4.87 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 84.00 | 15.86 % | |
R2 | 80.75 | 11.38 % | ||
R1 | 75.25 | 3.79 % | ||
Current price | 72.50 | |||
Support | S1 | 68.45 | -5.59% | |
S2 | 61.65 | -14.97% | ||
S3 | 56.70 | -21.79% |
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