Orge Enerji Elektrik Taahhüt Anonim Stock Forecast
Orge Enerji Elektrik Taahhüt Anonim stock price up 0.92% on Friday
(Updated on May 10, 2024)
The Orge Enerji Elektrik Taahhüt Anonim stock price gained 0.92% on the last trading day (Friday, 10th May 2024), rising from TRY 76.30 to TRY 77.00. During the last trading day the stock fluctuated 3.05% from a day low at TRY 75.50 to a day high of TRY 77.80. The price has been going up and down for this period, and there has been a 8.37% gain for the last 2 weeks. Volume fell on the last day by -96 thousand shares and in total, 1 million shares were bought and sold for approximately TRY 88.34 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 lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at TRY 79.76 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -11.75% during the next 3 months and, with a 90% probability hold a price between TRY 54.13 and TRY 70.39 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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ORGE.IS Signals & Forecast
The Orge Enerji Elektrik Taahhüt Anonim stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at TRY 75.95 and TRY 71.44. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -4.11%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Orge Enerji Elektrik Taahhüt Anonim stock
On the downside, the stock finds support just below today's level from accumulated volume at TRY 73.00 and TRY 70.55. 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, Orge Enerji Elektrik Taahhüt Anonim finds support just below today's level at TRY 73.00. If this is broken, then the next support from accumulated volume will be at TRY 70.55 and TRY 70.30.
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 2.30 between high and low, or 3.05%. For the last week, the stock has had daily average volatility of 5.13%.
Our recommended stop-loss: TRY 73.44 (-4.62%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (ORGE.IS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Orge Enerji Elektrik Taahhüt Anonim Sirketi to open at TRY 76.77, and during the day (based on 14 day Average True Range), to move between TRY 73.69 and TRY 80.31, which gives a possible trading interval of +/-TRY 3.31 (+/-4.29%) up or down from last closing price. If Orge Enerji Elektrik Taahhüt Anonim Sirketi takes out the full calculated possible swing range there will be an estimated 8.59% 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 78.50 (1.95%) than the support at TRY 73.00 (5.19%), 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 Orge Enerji Elektrik Taahhüt Anonim Sirketi stock A Buy?
Orge Enerji Elektrik Taahhüt Anonim 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: 0.304 Hold/Accumulate Unchanged
Predicted Opening Price for Orge Enerji Elektrik Taahhüt Anonim Sirketi of Monday, May 13, 2024
Fair opening price May 13, 2024 | Current price |
---|---|
TRY 76.77 ( 0.303%) | TRY 77.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ORGE.IS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 79.07 | 2.68 % | |
R2 | 78.19 | 1.54 % | ||
R1 | 77.65 | 0.84 % | ||
Current price: | 77.00 | |||
Support | S1 | 75.89 | -1.44 % | |
S2 | 75.35 | -2.15 % | ||
S3 | 74.47 | -3.29 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 81.20 | 5.45 % | |
R2 | 80.30 | 4.29 % | ||
R1 | 78.50 | 1.95 % | ||
Current price | 77.00 | |||
Support | S1 | 73.00 | -5.19% | |
S2 | 70.55 | -8.38% | ||
S3 | 70.30 | -8.70% |
FAQ
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