Petkim Petrokimya Holding A.S. Stock Forecast
Petkim Petrokimya Holding A.S. stock price down 1.47% on Tuesday
(Updated on May 07, 2024)
The Petkim Petrokimya Holding A.S. stock price fell by -1.47% on the last day (Tuesday, 7th May 2024) from TRY 20.38 to TRY 20.08. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 4.17% from a day low at TRY 19.66 to a day high of TRY 20.48. The price has been going up and down for this period, and there has been a 0.2% gain for the last 2 weeks. Volume has increased on the last day by 50 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, 128 million shares were bought and sold for approximately TRY 2.57 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 -20.92% during the next 3 months and, with a 90% probability hold a price between TRY 13.06 and TRY 16.73 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
A buy signal was issued from a pivot bottom point on Tuesday, April 02, 2024, and so far it has risen 8.89%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Petkim Petrokimya Holding A.S. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at TRY 20.72 and TRY 20.90. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
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 0.82 between high and low, or 4.17%. For the last week, the stock has had daily average volatility of 2.64%.
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 Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Petkim Petrokimya Holding A.S. to open at TRY 20.07, and during the day (based on 14 day Average True Range), to move between TRY 19.41 and TRY 20.75, which gives a possible trading interval of +/-TRY 0.668 (+/-3.33%) 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 6.66% 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 (0.40%) than the resistance at TRY 21.30 (6.08%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Petkim Petrokimya Holding A.S. will release earnings BMO on Thursday, May 09, 2024. We will update the financials statements for Petkim Petrokimya Holding A.S., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.65% in the first trading day after earnings release.
Is Petkim Petrokimya Holding A.S. stock A Buy?
Petkim Petrokimya Holding A.S. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.509 Sell Candidate Unchanged
Predicted Opening Price for Petkim Petrokimya Holding A.S. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| TRY 20.07 ( 0.0332%) | TRY 20.08 |
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 | 20.89 | 4.05 % | |
| R2 | 20.58 | 2.49 % | ||
| R1 | 20.39 | 1.53 % | ||
| Current price: | 20.08 | |||
| Support | S1 | 19.76 | -1.59 % | |
| S2 | 19.57 | -2.56 % | ||
| S3 | 19.25 | -4.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.50 | 22.01 % | |
| R2 | 24.18 | 20.42 % | ||
| R1 | 21.30 | 6.08 % | ||
| Current price | 20.08 | |||
| Support | S1 | 20.00 | -0.398% | |
| S2 | 19.97 | -0.548% | ||
| S3 | 19.02 | -5.28% |
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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