Özerden Plastik Sanayi ve Ticaret A.S. Stock Forecast
Özerden Plastik Sanayi ve Ticaret A.S. stock downgraded to Sell Candidate
(Updated on Apr 25, 2024)
The Özerden Plastik Sanayi ve Ticaret A.S. stock price fell by -2.76% on the last day (Thursday, 25th Apr 2024) from TRY 61.50 to TRY 59.80. During the last trading day the stock fluctuated 4.20% from a day low at TRY 59.50 to a day high of TRY 62.00. The price has risen in 6 of the last 10 days and is up by 5.75% over the past 2 weeks. 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 -137 thousand shares and in total, 159 thousand shares were bought and sold for approximately TRY 9.49 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 -4.25% during the next 3 months and, with a 90% probability hold a price between TRY 49.99 and TRY 59.15 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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OZRDN.IS Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Özerden Plastik Sanayi ve Ticaret A.S. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at TRY 60.56. On a fall, the stock will find some support from the short-term average at TRY 59.48. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -3.70%. Further fall is indicated until a new bottom pivot has been found. 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 Özerden Plastik Sanayi ve Ticaret A.S. stock
Özerden Plastik Sanayi ve Ticaret A.S. finds support from accumulated volume at TRY 59.25 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 2.50 between high and low, or 4.20%. For the last week, the stock has had daily average volatility of 4.51%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OZRDN.IS) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Özerden Plastik Sanayi ve Ticaret A.S. to open at TRY 60.43, and during the day (based on 14 day Average True Range), to move between TRY 56.47 and TRY 63.13, which gives a possible trading interval of +/-TRY 3.33 (+/-5.57%) up or down from last closing price. If Özerden Plastik Sanayi ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 11.14% 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 59.25 (0.92%) than the resistance at TRY 62.85 (5.10%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Özerden Plastik Sanayi ve Ticaret A.S. stock A Buy?
Özerden Plastik Sanayi ve Ticaret A.S. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -3.200 Sell Candidate Downgraded
Predicted Opening Price for Özerden Plastik Sanayi ve Ticaret A.S. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| TRY 60.43 ( 1.06%) | TRY 59.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OZRDN.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 62.93 | 5.24 % | |
| R2 | 61.98 | 3.64 % | ||
| R1 | 61.39 | 2.66 % | ||
| Current price: | 59.80 | |||
| Support | S1 | 59.48 | -0.538 % | |
| S2 | 58.89 | -1.52 % | ||
| S3 | 57.93 | -3.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 63.05 | 5.43 % | |
| R2 | 63.00 | 5.35 % | ||
| R1 | 62.85 | 5.10 % | ||
| Current price | 59.80 | |||
| Support | S1 | 59.25 | -0.92% | |
| S2 | 56.65 | -5.27% | ||
| S3 | 56.25 | -5.94% |
FAQ
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