Petkim Petrokimya Holding A.S. Stock Forecast
Red day on Thursday for Petkim Petrokimya Holding A.S.
(Updated on Apr 25, 2024)
The Petkim Petrokimya Holding A.S. stock price fell by -0.197% on the last day (Thursday, 25th Apr 2024) from TRY 20.26 to TRY 20.22. During the last trading day the stock fluctuated 2.38% from a day low at TRY 20.14 to a day high of TRY 20.62. The price has been going up and down for this period, and there has been a 2.64% gain for the last 2 weeks. Volume has increased on the last day by 18 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 64 million shares were bought and sold for approximately TRY 1.29 billion.
The stock lies in the middle of a very 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 -15.43% during the next 3 months and, with a 90% probability hold a price between TRY 14.84 and TRY 19.18 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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PETKM.IS Signals & Forecast
There are mixed signals in the stock today. The Petkim Petrokimya Holding 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 21.47. On a fall, the stock will find some support from the short-term average at TRY 20.06. 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 08, 2024, and so far it has fallen -1.65%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Petkim Petrokimya Holding A.S. stock
Petkim Petrokimya Holding A.S. finds support from accumulated volume at TRY 20.00 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 0.480 between high and low, or 2.38%. For the last week, the stock has had daily average volatility of 2.48%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PETKM.IS) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Petkim Petrokimya Holding A.S. to open at TRY 20.33, and during the day (based on 14 day Average True Range), to move between TRY 19.47 and TRY 20.97, which gives a possible trading interval of +/-TRY 0.748 (+/-3.70%) up or down from last closing price. If Petkim Petrokimya Holding A.S. takes out the full calculated possible swing range there will be an estimated 7.40% 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 20.00 (1.09%) than the resistance at TRY 21.30 (5.34%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Petkim Petrokimya Holding A.S. stock A Buy?
Petkim Petrokimya Holding 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.
Current score: -1.342 Sell Candidate Unchanged
Predicted Opening Price for Petkim Petrokimya Holding A.S. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| TRY 20.33 ( 0.528%) | TRY 20.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PETKM.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.81 | 2.90 % | |
| R2 | 20.62 | 1.99 % | ||
| R1 | 20.51 | 1.43 % | ||
| Current price: | 20.22 | |||
| Support | S1 | 20.14 | -0.379 % | |
| S2 | 20.03 | -0.94 % | ||
| S3 | 19.85 | -1.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.18 | 19.58 % | |
| R2 | 23.58 | 16.62 % | ||
| R1 | 21.30 | 5.34 % | ||
| Current price | 20.22 | |||
| Support | S1 | 20.00 | -1.09% | |
| S2 | 19.97 | -1.24% | ||
| S3 | 19.02 | -5.93% |
PETKM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 03, 2018 | May 03, 2018 | May 03, 2018 | TRY 0.213 | 5.36% |
| 2 | Apr 14, 2017 | Apr 14, 2017 | Apr 14, 2017 | TRY 0.237 | 8.55% |
| 3 | Jun 27, 2016 | Jun 27, 2016 | Jun 27, 2016 | TRY 0.186 | 8.58% |
| 4 | Jul 01, 2014 | Jul 01, 2014 | Jul 01, 2014 | TRY 0.0185 | 1.58% |
| 5 | May 28, 2012 | May 28, 2012 | May 28, 2012 | TRY 0.0220 | 3.08% |
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