Oyak Yatirim Ortakligi AS Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Oyak Yatirim Ortakligi AS stock price ended at TRY 35.12 on Friday, after losing 1.35%.
(Updated on May 31, 2024)
The Oyak Yatirim Ortakligi AS stock price fell by -1.35% on the last day (Friday, 31st May 2024) from TRY 35.60 to TRY 35.12. During the last trading day the stock fluctuated 2.73% from a day low at TRY 35.12 to a day high of TRY 36.08. The price has fallen in 6 of the last 10 days and is down by -11.49% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -175 thousand shares and in total, 96 thousand shares were bought and sold for approximately TRY 3.37 million.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at TRY 33.06 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Oyak Yatirim Ortakligi AS stock with a 90% probability to be traded between TRY 32.71 and TRY 47.25 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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OYAYO.IS Signals & Forecast
There are few to no technical positive signals at the moment. The Oyak Yatirim Ortakligi AS stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at TRY 35.65 and TRY 40.27. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 26, 2024, and so far it has fallen -26.77%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Oyak Yatirim Ortakligi AS stock
Oyak Yatirim Ortakligi AS finds support from accumulated volume at TRY 34.62 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved TRY 0.96 between high and low, or 2.73%. For the last week, the stock has had daily average volatility of 5.01%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OYAYO.IS) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Oyak Yatirim Ortakligi AS to open at TRY 35.44, and during the day (based on 14 day Average True Range), to move between TRY 32.71 and TRY 37.53, which gives a possible trading interval of +/-TRY 2.41 (+/-6.86%) 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 13.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at TRY 34.62 (1.42%) than the resistance at TRY 36.16 (2.96%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Oyak Yatirim Ortakligi AS stock A Buy?
Oyak Yatirim Ortakligi AS holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.819 Sell Candidate Unchanged
Predicted Opening Price for Oyak Yatirim Ortakligi AS of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| TRY 35.44 ( 0.91%) | TRY 35.12 |
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 | 36.40 | 3.64 % | |
| R2 | 36.03 | 2.60 % | ||
| R1 | 35.81 | 1.96 % | ||
| Current price: | 35.12 | |||
| Support | S1 | 35.07 | -0.133 % | |
| S2 | 34.85 | -0.778 % | ||
| S3 | 34.48 | -1.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 43.70 | 24.43 % | |
| R2 | 38.00 | 8.20 % | ||
| R1 | 36.16 | 2.96 % | ||
| Current price | 35.12 | |||
| Support | S1 | 34.62 | -1.42% | |
| S2 | 33.92 | -3.42% | ||
| S3 | 33.86 | -3.59% |
FAQ
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