Orçay Ortaköy Çay Sanayi ve Ticaret Stock Forecast

Red day on Tuesday for Orçay Ortaköy Çay Sanayi ve Ticaret stock after losing 2.82%
(Updated on Jun 25, 2024)

ORCAY.IS Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 4.37%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Orçay Ortaköy Çay Sanayi ve Ticaret 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 12.52. On a fall, the stock will find some support from the short-term average at TRY 11.63. 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. 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 Orçay Ortaköy Çay Sanayi ve Ticaret stock

Orçay Ortaköy Çay Sanayi ve Ticaret finds support from accumulated volume at TRY 11.70 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 0.620 between high and low, or 5.30%. For the last week, the stock has had daily average volatility of 4.64%.

Our recommended stop-loss: TRY 10.99 (-6.15%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 18 days ago.)

Trading Expectations (ORCAY.IS) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Orçay Ortaköy Çay Sanayi ve Ticaret Anonim Sirketi to open at TRY 11.91, and during the day (based on 14 day Average True Range), to move between TRY 10.91 and TRY 12.51, which gives a possible trading interval of +/-TRY 0.797 (+/-6.80%) up or down from last closing price. If Orçay Ortaköy Çay Sanayi ve Ticaret Anonim Sirketi takes out the full calculated possible swing range there will be an estimated 13.61% 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 11.70 (0.09%) than the resistance at TRY 13.13 (12.13%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Orçay Ortaköy Çay Sanayi ve Ticaret Anonim Sirketi stock A Buy?

Orçay Ortaköy Çay Sanayi ve Ticaret 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: 0.186 Hold/Accumulate Unchanged

Predicted Opening Price for Orçay Ortaköy Çay Sanayi ve Ticaret Anonim Sirketi of Wednesday, June 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.