Parsan Makina Parçalari Sanayii A.S. Stock Forecast

Stronger technical forecast for Parsan Makina Parçalari Sanayii A.S. stock price after Tuesday trading.
(Updated on Apr 30, 2024)

PARSN.IS Signals & Forecast

The Parsan Makina Parçalari Sanayii A.S. 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 110.13. On a fall, the stock will find some support from the long-term average at approximately TRY 107.89. 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. 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. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -5.16%. 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 Parsan Makina Parçalari Sanayii A.S. stock

Parsan Makina Parçalari Sanayii A.S. finds support from accumulated volume at TRY 107.70 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 2.70 between high and low, or 2.50%. For the last week, the stock has had daily average volatility of 3.49%.

Our recommended stop-loss: TRY 103.41 (-4.69%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 11 days ago.)

Trading Expectations (PARSN.IS) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect Parsan Makina Parçalari Sanayii A.S. to open at TRY 108.93, and during the day (based on 14 day Average True Range), to move between TRY 103.76 and TRY 113.24, which gives a possible trading interval of +/-TRY 4.74 (+/-4.37%) 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 8.74% 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 107.70 (0.74%) than the resistance at TRY 113.50 (4.61%), 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?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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: 1.406 Buy Candidate Upgraded

Predicted Opening Price for Parsan Makina Parçalari Sanayii A.S. of Thursday, May 2, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.