Pinar Süt Mamülleri Sanayii A.S. Stock Forecast
Pinar Süt Mamülleri Sanayii A.S. stock price up more than 6.89% on Friday
(Updated on May 03, 2024)
The Pinar Süt Mamülleri Sanayii A.S. stock price gained 6.89% on the last trading day (Friday, 3rd May 2024), rising from TRY 94.40 to TRY 100.90. During the last trading day the stock fluctuated 8.55% from a day low at TRY 94.15 to a day high of TRY 102.20. The price has risen in 7 of the last 10 days and is up by 17.19% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 303 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately TRY 113.82 million.
The stock has broken the wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. TRY 99.11 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach TRY 117.77 sometime during the next 3 months.
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PNSUT.IS Signals & Forecast
The Pinar Süt Mamülleri 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 92.86 and TRY 87.32. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 26, 2024, and so far it has risen 26.13%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
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 98.35 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 8.05 between high and low, or 8.55%. For the last week, the stock has had daily average volatility of 4.34%.
Our recommended stop-loss: TRY 96.95 (-3.91%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (PNSUT.IS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Pinar Süt Mamülleri Sanayii A.S. to open at TRY 99.08, and during the day (based on 14 day Average True Range), to move between TRY 97.42 and TRY 104.38, which gives a possible trading interval of +/-TRY 3.48 (+/-3.45%) 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 6.91% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ TRY 98.35, some TRY 2.55 (2.53%) from the current price of TRY 100.90, our system finds the risk reward attractive.
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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Pinar Süt Mamülleri Sanayii A.S. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| TRY 99.08 ( 1.80%) | TRY 100.90 |
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 | 107.13 | 6.18 % | |
| R2 | 104.06 | 3.13 % | ||
| R1 | 102.16 | 1.25 % | ||
| Current price: | 100.90 | |||
| Support | S1 | 96.01 | -4.85 % | |
| S2 | 94.11 | -6.73 % | ||
| S3 | 91.03 | -9.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 100.90 | |||
| Support | S1 | 98.35 | -2.53% | |
| S2 | 96.20 | -4.66% | ||
| S3 | 87.95 | -12.83% |
FAQ
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