Politeknik Metal Sanayi ve Ticaret Stock Forecast
High volatility in Politeknik Metal Sanayi ve Ticaret stock price on Tuesday which ended trading at TRY 8,930.00
(Updated on Jun 25, 2024)
The Politeknik Metal Sanayi ve Ticaret stock price gained 6.31% on the last trading day (Tuesday, 25th Jun 2024), rising from TRY 8,400.00 to TRY 8,930.00. During the last trading day the stock fluctuated 13.69% from a day low at TRY 8,125.00 to a day high of TRY 9,237.50. The price has fallen in 8 of the last 10 days and is down by -40.11% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 17 thousand more shares were traded than the day before. In total, 30 thousand shares were bought and sold for approximately TRY 266.16 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at TRY 7,785.08 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -45.26% during the next 3 months and, with a 90% probability hold a price between TRY 4,261.18 and TRY 7,733.01 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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POLTK.IS Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 6.31%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Politeknik Metal Sanayi ve Ticaret 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 9,397.50 and TRY 15,318.07. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Politeknik Metal Sanayi ve Ticaret stock
On the downside, the stock finds support just below today's level from accumulated volume at TRY 8,400.00. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at TRY may give a huge drop in the stock price.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved TRY 1,112.50 between high and low, or 13.69%. For the last week, the stock has had daily average volatility of 10.59%.
Politeknik Metal Sanayi ve Ticaret is oversold on RSI14 (11). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (POLTK.IS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Politeknik Metal Sanayi ve Ticaret Anonim Sirketi to open at TRY 8,764.17, and during the day (based on 14 day Average True Range), to move between TRY 7,978.44 and TRY 9,881.56, which gives a possible trading interval of +/-TRY 951.56 (+/-10.66%) up or down from last closing price. If Politeknik Metal Sanayi ve Ticaret Anonim Sirketi takes out the full calculated possible swing range there will be an estimated 21.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at TRY 8,940.00 (0.11%) than the support at TRY 8,400.00 (5.94%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Politeknik Metal Sanayi ve Ticaret Anonim Sirketi stock A Buy?
Politeknik Metal Sanayi ve Ticaret 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: -4.877 Sell Candidate Unchanged
Predicted Opening Price for Politeknik Metal Sanayi ve Ticaret Anonim Sirketi of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| TRY 8,764.17 ( 1.86%) | TRY 8,930.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for POLTK.IS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 9,876.67 | 10.60% |
| R2 | 9,451.69 | 5.84% |
| R1 | 9,189.14 | 2.90% |
| Price | 8,930.00 | |
| S1 | 8,339.19 | -6.62% |
| S2 | 8,076.64 | -9.56% |
| S3 | 7,651.67 | -14.32% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10,332.50 | 15.71% |
| R2 | 9,300.00 | 4.14% |
| R1 | 8,940.00 | 0.112% |
| Price | 8,930.00 | |
| S1 | 8,400.00 | -5.94% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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