Oyak Yatirim Ortakligi AS Stock Forecast
Oyak Yatirim Ortakligi AS stock upgraded from Sell Candidate to Buy Candidate after Thursday trading session.
(Updated on May 09, 2024)
The Oyak Yatirim Ortakligi AS stock price gained 1.17% on the last trading day (Thursday, 9th May 2024), rising from TRY 41.20 to TRY 41.68. During the last trading day the stock fluctuated 4.03% from a day low at TRY 40.20 to a day high of TRY 41.82. The price has fallen in 6 of the last 10 days and is down by -5.91% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 134 thousand more shares were traded than the day before. In total, 421 thousand shares were bought and sold for approximately TRY 17.53 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at TRY 40.20 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 35.49% during the next 3 months and, with a 90% probability hold a price between TRY 54.47 and TRY 67.42 at the end of this 3-month period.
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OYAYO.IS Signals & Forecast
The Oyak Yatirim Ortakligi AS stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately TRY 42.23. On a fall, the stock will find some support from the long-term average at approximately TRY 41.36. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 26, 2024, and so far it has fallen -13.09%. 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).
Support, Risk & Stop-loss for Oyak Yatirim Ortakligi AS stock
On the downside, the stock finds support just below today's level from accumulated volume at TRY 38.00 and TRY 36.16. 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, Oyak Yatirim Ortakligi AS finds support just below today's level at TRY 38.00. If this is broken, then the next support from accumulated volume will be at TRY 36.16 and TRY 34.48.
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 1.62 between high and low, or 4.03%. For the last week, the stock has had daily average volatility of 5.47%.
Our recommended stop-loss: TRY 39.11 (-6.16%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (OYAYO.IS) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Oyak Yatirim Ortakligi AS to open at TRY 41.23, and during the day (based on 14 day Average True Range), to move between TRY 38.84 and TRY 44.52, which gives a possible trading interval of +/-TRY 2.84 (+/-6.82%) up or down from last closing price. If Oyak Yatirim Ortakligi AS takes out the full calculated possible swing range there will be an estimated 13.64% 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 42.00 (0.77%) than the support at TRY 38.00 (8.83%), 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 Oyak Yatirim Ortakligi AS 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 Oyak Yatirim Ortakligi AS stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.865 Buy Candidate Upgraded
Predicted Opening Price for Oyak Yatirim Ortakligi AS of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| TRY 41.23 ( 1.07%) | TRY 41.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OYAYO.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 42.85 | 2.82 % | |
| R2 | 42.23 | 1.33 % | ||
| R1 | 41.85 | 0.413 % | ||
| Current price: | 41.68 | |||
| Support | S1 | 40.61 | -2.56 % | |
| S2 | 40.23 | -3.47 % | ||
| S3 | 39.61 | -4.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.52 | 6.81 % | |
| R2 | 43.70 | 4.85 % | ||
| R1 | 42.00 | 0.768 % | ||
| Current price | 41.68 | |||
| Support | S1 | 38.00 | -8.83% | |
| S2 | 36.16 | -13.24% | ||
| S3 | 34.48 | -17.27% |
FAQ
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