Otokar Otomotiv ve Savunma Sanayi A.S. Stock Forecast
Green day on Friday for Otokar Otomotiv ve Savunma Sanayi A.S. stock after gaining 0.97%
(Updated on May 03, 2024)
The Otokar Otomotiv ve Savunma Sanayi A.S. stock price gained 0.97% on the last trading day (Friday, 3rd May 2024), rising from TRY 514.00 to TRY 519.00. During the last trading day the stock fluctuated 2.71% from a day low at TRY 517.00 to a day high of TRY 531.00. The price has risen in 6 of the last 10 days and is up by 4.85% over the past 2 weeks. Volume fell on the last day by -46 thousand shares and in total, 402 thousand shares were bought and sold for approximately TRY 208.56 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 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 522.62 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 -4.74% during the next 3 months and, with a 90% probability hold a price between TRY 409.68 and TRY 497.84 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 506.04 and TRY 482.54. 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, April 30, 2024, and so far it has fallen -0.86%. 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 514.00 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 14.00 between high and low, or 2.71%. For the last week, the stock has had daily average volatility of 3.03%.
Our recommended stop-loss: TRY 500.27 (-3.61%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (OTKAR.IS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Otokar Otomotiv ve Savunma Sanayi A.S. to open at TRY 522.33, and during the day (based on 14 day Average True Range), to move between TRY 500.53 and TRY 537.47, which gives a possible trading interval of +/-TRY 18.47 (+/-3.56%) 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 7.12% 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 523.50 (0.87%) than the support at TRY 514.00 (0.96%), 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?
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.
Current score: 0.738 Hold/Accumulate Unchanged
Predicted Opening Price for Otokar Otomotiv ve Savunma Sanayi A.S. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| TRY 522.33 ( 0.642%) | TRY 519.00 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 536.33 | 3.34 % | |
| R2 | 530.99 | 2.31 % | ||
| R1 | 527.68 | 1.67 % | ||
| Current price: | 519.00 | |||
| Support | S1 | 516.99 | -0.388 % | |
| S2 | 513.68 | -1.02 % | ||
| S3 | 508.33 | -2.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 529.50 | 2.02 % | |
| R2 | 527.50 | 1.64 % | ||
| R1 | 523.50 | 0.87 % | ||
| Current price | 519.00 | |||
| Support | S1 | 514.00 | -0.96% | |
| S2 | 503.00 | -3.08% | ||
| S3 | 491.75 | -5.25% |
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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