Nigbas Nigde Beton Sanayi Ve Ticaret Stock Forecast
Red day on Friday for Nigbas Nigde Beton Sanayi Ve Ticaret stock after losing 3.06%
(Updated on May 10, 2024)
The Nigbas Nigde Beton Sanayi Ve Ticaret stock price fell by -3.06% on the last day (Friday, 10th May 2024) from TRY 19.95 to TRY 19.34. During the last trading day the stock fluctuated 5.79% from a day low at TRY 19.00 to a day high of TRY 20.10. The price has risen in 6 of the last 10 days but is still down by -10.46% 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 -4 million shares and in total, 3 million shares were bought and sold for approximately TRY 58.12 million.
The stock lies in the middle of a 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 -8.52% during the next 3 months and, with a 90% probability hold a price between TRY 16.57 and TRY 20.45 at the end of this 3-month period.
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NIBAS.IS Signals & Forecast
There are few to no technical positive signals at the moment. The Nigbas Nigde Beton Sanayi Ve Ticaret stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at TRY 21.15 and TRY 21.09. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -15.77%. 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 Nigbas Nigde Beton Sanayi Ve Ticaret stock
Nigbas Nigde Beton Sanayi Ve Ticaret finds support from accumulated volume at TRY 19.10 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 1.10 between high and low, or 5.79%. For the last week, the stock has had daily average volatility of 6.47%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NIBAS.IS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Nigbas Nigde Beton Sanayi Ve Ticaret A.S. to open at TRY 19.48, and during the day (based on 14 day Average True Range), to move between TRY 18.08 and TRY 20.60, which gives a possible trading interval of +/-TRY 1.26 (+/-6.51%) up or down from last closing price. If Nigbas Nigde Beton Sanayi Ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 13.03% 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 19.10 (1.24%) than the resistance at TRY 21.82 (12.82%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Nigbas Nigde Beton Sanayi Ve Ticaret A.S. stock A Buy?
Nigbas Nigde Beton Sanayi Ve Ticaret holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.383 Sell Candidate Unchanged
Predicted Opening Price for Nigbas Nigde Beton Sanayi Ve Ticaret A.S. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| TRY 19.48 ( 0.724%) | TRY 19.34 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NIBAS.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.58 | 6.41 % | |
| R2 | 20.16 | 4.24 % | ||
| R1 | 19.90 | 2.90 % | ||
| Current price: | 19.34 | |||
| Support | S1 | 19.06 | -1.45 % | |
| S2 | 18.80 | -2.79 % | ||
| S3 | 18.38 | -4.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.94 | 23.78 % | |
| R2 | 22.96 | 18.72 % | ||
| R1 | 21.82 | 12.82 % | ||
| Current price | 19.34 | |||
| Support | S1 | 19.10 | -1.24% | |
| S2 | 19.05 | -1.50% | ||
| S3 | 18.89 | -2.33% |
FAQ
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