OBA MAKARNACILIK Stock Forecast
OBA MAKARNACILIK stock price ended at TRY 36.88 on Wednesday, after losing 2.12%.
(Updated on Jun 26, 2024)
The OBA MAKARNACILIK stock price fell by -2.12% on the last day (Wednesday, 26th Jun 2024) from TRY 37.68 to TRY 36.88. During the last trading day the stock fluctuated 3.23% from a day low at TRY 36.54 to a day high of TRY 37.72. The price has risen in 6 of the last 10 days and is up by 2.84% over the past 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 -2 million shares and in total, 4 million shares were bought and sold for approximately TRY 155.83 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 -20.80% during the next 3 months and, with a 90% probability hold a price between TRY 25.04 and TRY 32.21 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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OBAMS.IS Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The OBA MAKARNACILIK stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at TRY 38.01 and TRY 38.47. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -7.29%. Further fall is indicated until a new bottom pivot has been found. 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 OBA MAKARNACILIK stock
OBA MAKARNACILIK finds support from accumulated volume at TRY 36.82 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 1.18 between high and low, or 3.23%. For the last week, the stock has had daily average volatility of 4.12%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OBAMS.IS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect OBA MAKARNACILIK to open at TRY 37.05, and during the day (based on 14 day Average True Range), to move between TRY 35.30 and TRY 38.46, which gives a possible trading interval of +/-TRY 1.58 (+/-4.28%) up or down from last closing price. If OBA MAKARNACILIK takes out the full calculated possible swing range there will be an estimated 8.57% 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 36.82 (0.16%) than the resistance at TRY 40.94 (11.01%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is OBA MAKARNACILIK stock A Buy?
OBA MAKARNACILIK holds several negative signals and is within a very 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: -3.327 Sell Candidate Unchanged
Predicted Opening Price for OBA MAKARNACILIK of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| TRY 37.05 ( 0.452%) | TRY 36.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OBAMS.IS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 38.23 | 3.65% |
| R2 | 37.78 | 2.43% |
| R1 | 37.50 | 1.67% |
| Price | 36.88 | |
| S1 | 36.60 | -0.770% |
| S2 | 36.32 | -1.53% |
| S3 | 35.87 | -2.75% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 45.92 | 24.51% |
| R2 | 45.40 | 23.10% |
| R1 | 40.94 | 11.01% |
| Price | 36.88 | |
| S1 | 36.82 | -0.163% |
| S2 | 36.70 | -0.488% |
| S3 | 36.00 | -2.39% |
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