Pinar Süt Mamülleri Sanayii A.S. Stock Forecast
Pinar Süt Mamülleri Sanayii A.S. stock downgraded to Hold/Accumulate
(Updated on Apr 25, 2024)
The Pinar Süt Mamülleri Sanayii A.S. stock price fell by -1.18% on the last day (Thursday, 25th Apr 2024) from TRY 89.00 to TRY 87.95. During the last trading day the stock fluctuated 3.13% from a day low at TRY 87.95 to a day high of TRY 90.70. The price has risen in 6 of the last 10 days and is up by 3.17% over the past 2 weeks. Volume has increased on the last day by 272 thousand 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, 481 thousand shares were bought and sold for approximately TRY 42.34 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Pinar Süt Mamülleri Sanayii A.S. stock with a 90% probability to be traded between TRY 81.67 and TRY 100.70 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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PNSUT.IS Signals & Forecast
The Pinar Süt Mamülleri 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 88.19. On a fall, the stock will find some support from the long-term average at approximately TRY 87.22. 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 Monday, April 22, 2024, and so far it has fallen -3.09%. 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.
Support, Risk & Stop-loss for Pinar Süt Mamülleri Sanayii A.S. stock
Pinar Süt Mamülleri Sanayii A.S. finds support from accumulated volume at TRY 87.35 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 2.75 between high and low, or 3.13%. For the last week, the stock has had daily average volatility of 2.80%.
Our recommended stop-loss: TRY 84.44 (-3.99%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (PNSUT.IS) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Pinar Süt Mamülleri Sanayii A.S. to open at TRY 88.87, and during the day (based on 14 day Average True Range), to move between TRY 84.84 and TRY 91.06, which gives a possible trading interval of +/-TRY 3.11 (+/-3.54%) up or down from last closing price. If Pinar Süt Mamülleri Sanayii A.S. takes out the full calculated possible swing range there will be an estimated 7.08% 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 87.35 (0.68%) than the resistance at TRY 90.60 (3.01%), 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 Süt Mamülleri Sanayii A.S. stock A Buy?
Pinar Süt Mamülleri Sanayii A.S. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.403 Hold/Accumulate Downgraded
Predicted Opening Price for Pinar Süt Mamülleri Sanayii A.S. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| TRY 88.87 ( 1.04%) | TRY 87.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PNSUT.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 91.62 | 4.17 % | |
| R2 | 90.57 | 2.97 % | ||
| R1 | 89.92 | 2.24 % | ||
| Current price: | 87.95 | |||
| Support | S1 | 87.82 | -0.152 % | |
| S2 | 87.17 | -0.89 % | ||
| S3 | 86.12 | -2.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 98.35 | 11.82 % | |
| R2 | 96.20 | 9.38 % | ||
| R1 | 90.60 | 3.01 % | ||
| Current price | 87.95 | |||
| Support | S1 | 87.35 | -0.682% | |
| S2 | 86.65 | -1.48% | ||
| S3 | 80.30 | -8.70% |
FAQ
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