Orçay Ortaköy Çay Sanayi ve Ticaret Stock Forecast
Green day on Friday for Orçay Ortaköy Çay Sanayi ve Ticaret
(Updated on Jun 14, 2024)
The Orçay Ortaköy Çay Sanayi ve Ticaret stock price gained 0.264% on the last trading day (Friday, 14th Jun 2024), rising from TRY 11.36 to TRY 11.39. During the last trading day the stock fluctuated 2.13% from a day low at TRY 11.29 to a day high of TRY 11.53. The price has fallen in 6 of the last 10 days and is down by -11.02% for this period. Volume fell on the last day by -2 million shares and in total, 4 million shares were bought and sold for approximately TRY 42.74 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at TRY 11.22 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Orçay Ortaköy Çay Sanayi ve Ticaret stock with a 90% probability to be traded between TRY 11.24 and TRY 17.22 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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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 1.52%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 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 11.54 and TRY 12.51. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
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 11.36 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 0.240 between high and low, or 2.13%. For the last week, the stock has had daily average volatility of 5.38%.
Orçay Ortaköy Çay Sanayi ve Ticaret is oversold on RSI14 (8). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ORCAY.IS) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Orçay Ortaköy Çay Sanayi ve Ticaret Anonim Sirketi to open at TRY 11.40, and during the day (based on 14 day Average True Range), to move between TRY 10.53 and TRY 12.25, which gives a possible trading interval of +/-TRY 0.86 (+/-7.58%) 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 15.15% 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 11.36 (0.26%) than the resistance at TRY 13.13 (15.28%), 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 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: -1.791 Sell Candidate Unchanged
Predicted Opening Price for Orçay Ortaköy Çay Sanayi ve Ticaret Anonim Sirketi of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| TRY 11.40 ( 0.117%) | TRY 11.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ORCAY.IS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.64 | 2.22% |
| R2 | 11.55 | 1.42% |
| R1 | 11.50 | 0.92% |
| Price | 11.39 | |
| S1 | 11.31 | -0.688% |
| S2 | 11.26 | -1.19% |
| S3 | 11.16 | -1.99% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.20 | 24.67% |
| R2 | 13.93 | 22.30% |
| R1 | 13.13 | 15.28% |
| Price | 11.39 | |
| S1 | 11.36 | -0.263% |
| S2 | 11.30 | -0.790% |
| S3 | 11.22 | -1.49% |
FAQ
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