Otokar Otomotiv ve Savunma Sanayi A.S. Stock Forecast
Otokar Otomotiv ve Savunma Sanayi A.S. stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Apr 25, 2024)
The Otokar Otomotiv ve Savunma Sanayi A.S. stock price gained 1.44% on the last trading day (Thursday, 25th Apr 2024), rising from TRY 487.50 to TRY 494.50. During the last trading day the stock fluctuated 1.96% from a day low at TRY 485.50 to a day high of TRY 495.00. The price has risen in 5 of the last 10 days and is up by 0.51% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 36 thousand more shares were traded than the day before. In total, 281 thousand shares were bought and sold for approximately TRY 138.80 million.
The stock lies in the middle of a 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 -5.21% during the next 3 months and, with a 90% probability hold a price between TRY 409.33 and TRY 490.54 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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OTKAR.IS Signals & Forecast
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 492.00 and TRY 479.29. 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 is rising along with the price. This is considered to be a good technical signal. 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 Friday, April 19, 2024, and so far it has fallen -0.95%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Otokar Otomotiv ve Savunma Sanayi A.S. stock
Otokar Otomotiv ve Savunma Sanayi A.S. finds support from accumulated volume at TRY 494.00 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 9.50 between high and low, or 1.96%. For the last week, the stock has had daily average volatility of 3.07%.
Our recommended stop-loss: TRY 474.90 (-3.96%) (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 (OTKAR.IS) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Otokar Otomotiv ve Savunma Sanayi A.S. to open at TRY 491.67, and during the day (based on 14 day Average True Range), to move between TRY 475.11 and TRY 513.89, which gives a possible trading interval of +/-TRY 19.39 (+/-3.92%) 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 7.84% 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 495.00 (0.10%) than the support at TRY 494.00 (0.10%), 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.
Earnings coming up
Otokar Otomotiv ve Savunma Sanayi A.S. will release earnings BMO on Thursday, April 25, 2024. We will update the financials statements for Otokar Otomotiv ve Savunma Sanayi A.S., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.54% in the first trading day after earnings release.
Is Otokar Otomotiv ve Savunma Sanayi A.S. stock A Buy?
Otokar Otomotiv ve Savunma Sanayi A.S. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.377 Hold/Accumulate Upgraded
Predicted Opening Price for Otokar Otomotiv ve Savunma Sanayi A.S. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| TRY 491.67 ( 0.573%) | TRY 494.50 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 501.17 | 1.35 % | |
| R2 | 497.54 | 0.614 % | ||
| R1 | 495.30 | 0.161 % | ||
| Current price: | 494.50 | |||
| Support | S1 | 488.04 | -1.31 % | |
| S2 | 485.80 | -1.76 % | ||
| S3 | 482.17 | -2.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 529.50 | 7.08 % | |
| R2 | 503.00 | 1.72 % | ||
| R1 | 495.00 | 0.101 % | ||
| Current price | 494.50 | |||
| Support | S1 | 494.00 | -0.101% | |
| S2 | 491.75 | -0.556% | ||
| S3 | 453.50 | -8.29% |
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% |
FAQ
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