Otokar Otomotiv ve Savunma Sanayi A.S. Stock Forecast
Otokar Otomotiv ve Savunma Sanayi A.S. stock price down 0.0766% on Wednesday
(Updated on Jun 26, 2024)
The Otokar Otomotiv ve Savunma Sanayi A.S. stock price fell by -0.0766% on the last day (Wednesday, 26th Jun 2024) from TRY 652.50 to TRY 652.00. During the last trading day the stock fluctuated 3.45% from a day low at TRY 638.00 to a day high of TRY 660.00. The price has risen in 7 of the last 10 days and is up by 9.12% over the past 2 weeks. Volume has increased on the last day by 115 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 324 thousand shares were bought and sold for approximately TRY 210.98 million.
The stock lies in the upper part of a strong rising 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 656.00 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 43.76% during the next 3 months and, with a 90% probability hold a price between TRY 860.45 and TRY 943.08 at the end of this 3-month period.
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OTKAR.IS Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, June 25, 2024, and so far it has fallen -0.0766%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The Otokar Otomotiv ve Savunma Sanayi A.S. 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 639.14 and TRY 594.91. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Otokar Otomotiv ve Savunma Sanayi A.S. stock
On the downside, the stock finds support just below today's level from accumulated volume at TRY 610.50 and TRY 567.00. 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, Otokar Otomotiv ve Savunma Sanayi A.S. finds support just below today's level at TRY 610.50. If this is broken, then the next support from accumulated volume will be at TRY 567.00 and TRY 517.00.
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 22.00 between high and low, or 3.45%. For the last week, the stock has had daily average volatility of 3.05%.
Our recommended stop-loss: TRY 633.89 (-2.78%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (OTKAR.IS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Otokar Otomotiv ve Savunma Sanayi A.S. to open at TRY 650.00, and during the day (based on 14 day Average True Range), to move between TRY 629.86 and TRY 674.14, which gives a possible trading interval of +/-TRY 22.14 (+/-3.40%) up or down from last closing price. If Otokar Otomotiv ve Savunma Sanayi A.S. takes out the full calculated possible swing range there will be an estimated 6.79% 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 652.50 (0.08%) than the support at TRY 610.50 (6.37%), 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 Otokar Otomotiv ve Savunma Sanayi A.S. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Otokar Otomotiv ve Savunma Sanayi A.S. stock to perform well in the short-term.
Current score: 1.465 Buy Candidate Unchanged
Predicted Opening Price for Otokar Otomotiv ve Savunma Sanayi A.S. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| TRY 650.00 ( 0.307%) | TRY 652.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OTKAR.IS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 672.00 | 3.07% |
| R2 | 663.60 | 1.78% |
| R1 | 658.40 | 0.98% |
| Price | 652.00 | |
| S1 | 641.60 | -1.60% |
| S2 | 636.40 | -2.39% |
| S3 | 628.00 | -3.68% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 652.50 | 0.0767% |
| Price | 652.00 | |
| S1 | 610.50 | -6.37% |
| S2 | 567.00 | -13.04% |
| S3 | 517.00 | -20.71% |
OTKAR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 03, 2024 | Apr 03, 2024 | Apr 05, 2024 | TRY 6.00 | 1.22% |
| 2 | Mar 28, 2022 | Mar 28, 2022 | Mar 28, 2022 | TRY 4.17 | 4.82% |
| 3 | Mar 24, 2021 | Mar 24, 2021 | Mar 24, 2021 | TRY 3.33 | 4.44% |
| 4 | Mar 23, 2020 | Mar 23, 2020 | Mar 23, 2020 | TRY 1.67 | 7.81% |
| 5 | Mar 25, 2019 | Mar 25, 2019 | Mar 25, 2019 | TRY 0.600 | 2.74% |
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