Petkim Petrokimya Holding A.S. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Evaluation of Petkim Petrokimya Holding A.S. stock downgraded after the last trading session.
(Updated on May 06, 2024)
The Petkim Petrokimya Holding A.S. stock price fell by -2.86% on the last day (Monday, 6th May 2024) from TRY 20.98 to TRY 20.38. During the last trading day the stock fluctuated 3.44% from a day low at TRY 20.34 to a day high of TRY 21.04. The price has risen in 6 of the last 10 days and is up by 2.57% over the past 2 weeks. Volume has increased on the last day by 3 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, 78 million shares were bought and sold for approximately TRY 1.59 billion.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at TRY 21.28 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -20.59% during the next 3 months and, with a 90% probability hold a price between TRY 13.21 and TRY 16.90 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 10.52%. 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 20.74 and TRY 21.02. 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 0.700 between high and low, or 3.44%. For the last week, the stock has had daily average volatility of 2.05%.
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 Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Petkim Petrokimya Holding A.S. to open at TRY 20.59, and during the day (based on 14 day Average True Range), to move between TRY 19.72 and TRY 21.04, which gives a possible trading interval of +/-TRY 0.656 (+/-3.22%) 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 6.44% 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 (1.86%) than the resistance at TRY 21.30 (4.51%), 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 Tuesday, May 07, 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.328 Sell Candidate Downgraded
Predicted Opening Price for Petkim Petrokimya Holding A.S. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| TRY 20.59 ( 1.01%) | TRY 20.38 |
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 | 21.29 | 4.45 % | |
| R2 | 21.02 | 3.14 % | ||
| R1 | 20.85 | 2.33 % | ||
| Current price: | 20.38 | |||
| Support | S1 | 20.32 | -0.298 % | |
| S2 | 20.15 | -1.11 % | ||
| S3 | 19.89 | -2.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.18 | 18.65 % | |
| R2 | 23.58 | 15.70 % | ||
| R1 | 21.30 | 4.51 % | ||
| Current price | 20.38 | |||
| Support | S1 | 20.00 | -1.86% | |
| S2 | 19.97 | -2.01% | ||
| S3 | 19.02 | -6.67% |
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% |
FAQ
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