Panora Gayrimenkul Yatirim Ortakligi Stock Forecast
Evaluation of Panora Gayrimenkul Yatirim Ortakligi stock downgraded after the last trading session.
(Updated on May 09, 2024)
The Panora Gayrimenkul Yatirim Ortakligi stock price gained 4.97% on the last trading day (Thursday, 9th May 2024), rising from TRY 40.24 to TRY 42.24. During the last trading day the stock fluctuated 7.23% from a day low at TRY 40.12 to a day high of TRY 43.02. The price has risen in 7 of the last 10 days and is up by 7.81% 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, 151 thousand more shares were traded than the day before. In total, 560 thousand shares were bought and sold for approximately TRY 23.67 million.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is TRY 39.70, a level that may pose a second chance to hit a runner. According to fan-theory TRY 44.99 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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PAGYO.IS Signals & Forecast
The Panora Gayrimenkul Yatirim Ortakligi 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 40.46 and TRY 38.61. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 15.47%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Panora Gayrimenkul Yatirim Ortakligi stock
Panora Gayrimenkul Yatirim Ortakligi finds support from accumulated volume at TRY 40.22 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 2.90 between high and low, or 7.23%. For the last week, the stock has had daily average volatility of 4.11%.
The Panora Gayrimenkul Yatirim Ortakligi stock is extremely overbought on RSI14 (84). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: TRY 40.78 (-3.46%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 84 and this increases the risk substantially. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (PAGYO.IS) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Panora Gayrimenkul Yatirim Ortakligi A.S. to open at TRY 41.79, and during the day (based on 14 day Average True Range), to move between TRY 40.56 and TRY 43.92, which gives a possible trading interval of +/-TRY 1.68 (+/-3.97%) up or down from last closing price. If Panora Gayrimenkul Yatirim Ortakligi A.S. takes out the full calculated possible swing range there will be an estimated 7.93% 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 42.34 (0.24%) than the support at TRY 40.22 (4.78%), 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 Panora Gayrimenkul Yatirim Ortakligi A.S. stock A Buy?
Panora Gayrimenkul Yatirim Ortakligi 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. 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 Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Panora Gayrimenkul Yatirim Ortakligi A.S. of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| TRY 41.79 ( 1.06%) | TRY 42.24 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PAGYO.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.69 | 5.81 % | |
| R2 | 43.59 | 3.19 % | ||
| R1 | 42.90 | 1.57 % | ||
| Current price: | 42.24 | |||
| Support | S1 | 40.69 | -3.68 % | |
| S2 | 40.00 | -5.30 % | ||
| S3 | 38.89 | -7.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 42.64 | 0.95 % | |
| R2 | 42.48 | 0.568 % | ||
| R1 | 42.34 | 0.237 % | ||
| Current price | 42.24 | |||
| Support | S1 | 40.22 | -4.78% | |
| S2 | 40.02 | -5.26% | ||
| S3 | 36.92 | -12.59% |
FAQ
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