Parsan Makina Parçalari Sanayii A.S. Stock Forecast
Parsan Makina Parçalari Sanayii A.S. stock upgraded to Hold/Accumulate.
(Updated on Apr 17, 2024)
The Parsan Makina Parçalari Sanayii A.S. stock price gained 4.11% on the last trading day (Wednesday, 17th Apr 2024), rising from TRY 109.60 to TRY 114.10. During the last trading day the stock fluctuated 6.28% from a day low at TRY 108.20 to a day high of TRY 115.00. The price has been going up and down for this period, and there has been a 12.19% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 260 thousand more shares were traded than the day before. In total, 745 thousand shares were bought and sold for approximately TRY 85.06 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Parsan Makina Parçalari Sanayii A.S. stock with a 90% probability to be traded between TRY 95.43 and TRY 127.77 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
PARSN.IS Signals & Forecast
The Parsan Makina Parçalari Sanayii A.S. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at TRY 109.11 and TRY 109.84. 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 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 Tuesday, April 09, 2024, and so far it has fallen -0.262%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Parsan Makina Parçalari Sanayii A.S. stock
Parsan Makina Parçalari Sanayii A.S. finds support from accumulated volume at TRY 111.50 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 6.80 between high and low, or 6.28%. For the last week, the stock has had daily average volatility of 4.65%.
Our recommended stop-loss: TRY 109.73 (-3.83%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (PARSN.IS) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Parsan Makina Parçalari Sanayii A.S. to open at TRY 112.43, and during the day (based on 14 day Average True Range), to move between TRY 108.72 and TRY 119.48, which gives a possible trading interval of +/-TRY 5.38 (+/-4.71%) up or down from last closing price. If Parsan Makina Parçalari Sanayii A.S. takes out the full calculated possible swing range there will be an estimated 9.43% 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 111.50 (2.28%) than the resistance at TRY 118.40 (3.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Parsan Makina Parçalari Sanayii A.S. stock A Buy?
Parsan Makina Parçalari Sanayii 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.984 Hold/Accumulate Upgraded
Predicted Opening Price for Parsan Makina Parçalari Sanayii A.S. of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| TRY 112.43 ( 1.46%) | TRY 114.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PARSN.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 119.23 | 4.50 % | |
| R2 | 116.64 | 2.22 % | ||
| R1 | 115.03 | 0.82 % | ||
| Current price: | 114.10 | |||
| Support | S1 | 109.84 | -3.74 % | |
| S2 | 108.23 | -5.14 % | ||
| S3 | 105.63 | -7.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 126.80 | 11.13 % | |
| R2 | 121.80 | 6.75 % | ||
| R1 | 118.40 | 3.77 % | ||
| Current price | 114.10 | |||
| Support | S1 | 111.50 | -2.28% | |
| S2 | 103.50 | -9.29% | ||
| S3 | 101.60 | -10.96% |
FAQ
Click here for our free guide on how to buy Parsan Makina Parçalari Sanayii A.S. Stock.
