Pinar Entegre Et ve Un Sanayii 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 Pinar Entegre Et ve Un Sanayii A.S. stock downgraded after the last trading session.
(Updated on May 06, 2024)
The Pinar Entegre Et ve Un Sanayii A.S. stock price fell by -2.28% on the last day (Monday, 6th May 2024) from TRY 98.75 to TRY 96.50. During the last trading day the stock fluctuated 4.80% from a day low at TRY 95.80 to a day high of TRY 100.40. The price has risen in 6 of the last 10 days and is up by 6.34% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -62 thousand shares and in total, 558 thousand shares were bought and sold for approximately TRY 53.82 million.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.46% during the next 3 months and, with a 90% probability hold a price between TRY 87.18 and TRY 109.83 at the end of this 3-month period.
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PETUN.IS Signals & Forecast
The Pinar Entegre Et ve Un Sanayii A.S. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at TRY 94.63 and TRY 87.54. 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). 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 Friday, May 03, 2024, and so far it has fallen -2.28%. 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.
A sell signal from a double top formation was found on Friday, May 03, 2024 and based on theory for this formation the price should fall by -31.53% to TRY 66.07 within 39 trading days since signal was issued (Tuesday, May 07, 2024).
Support, Risk & Stop-loss for Pinar Entegre Et ve Un Sanayii A.S. stock
Pinar Entegre Et ve Un Sanayii A.S. finds support from accumulated volume at TRY 95.50 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 4.60 between high and low, or 4.80%. For the last week, the stock has had daily average volatility of 6.19%.
Our recommended stop-loss: TRY 92.02 (-4.65%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (PETUN.IS) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Pinar Entegre Et ve Un Sanayii A.S. to open at TRY 97.57, and during the day (based on 14 day Average True Range), to move between TRY 92.15 and TRY 100.85, which gives a possible trading interval of +/-TRY 4.35 (+/-4.50%) up or down from last closing price. If Pinar Entegre Et ve Un Sanayii A.S. takes out the full calculated possible swing range there will be an estimated 9.01% 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 95.50 (1.04%) than the resistance at TRY 98.75 (2.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Pinar Entegre Et ve Un Sanayii A.S. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Pinar Entegre Et ve Un Sanayii A.S. stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 1.808 Buy Candidate Downgraded
Predicted Opening Price for Pinar Entegre Et ve Un Sanayii A.S. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| TRY 97.57 ( 1.11%) | TRY 96.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PETUN.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 102.17 | 5.87 % | |
| R2 | 100.41 | 4.05 % | ||
| R1 | 99.32 | 2.93 % | ||
| Current price: | 96.50 | |||
| Support | S1 | 95.81 | -0.716 % | |
| S2 | 94.72 | -1.84 % | ||
| S3 | 92.97 | -3.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 98.85 | 2.44 % | ||
| R1 | 98.75 | 2.33 % | ||
| Current price | 96.50 | |||
| Support | S1 | 95.50 | -1.04% | |
| S2 | 93.00 | -3.63% | ||
| S3 | 83.35 | -13.63% |
FAQ
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