Politeknik Metal Sanayi ve Ticaret Stock Forecast
Red day on Friday for Politeknik Metal Sanayi ve Ticaret stock after losing 3.03%
(Updated on Jun 28, 2024)
The Politeknik Metal Sanayi ve Ticaret stock price fell by -3.03% on the last day (Friday, 28th Jun 2024) from TRY 8,667.50 to TRY 8,405.00. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 5.01% from a day low at TRY 8,332.50 to a day high of TRY 8,750.00. The price has fallen in 8 of the last 10 days and is down by -34.1% for this period. 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 -2 thousand shares and in total, 7 thousand shares were bought and sold for approximately TRY 61.74 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -50.76% during the next 3 months and, with a 90% probability hold a price between TRY 3,448.48 and TRY 6,338.90 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
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 0.0595%. Further rise is indicated until a new top pivot has been found. 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 8,642.86 and TRY 14,478.64. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Politeknik Metal Sanayi ve Ticaret stock
Politeknik Metal Sanayi ve Ticaret finds support from accumulated volume at TRY 8,400.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 417.50 between high and low, or 5.01%. For the last week, the stock has had daily average volatility of 8.29%.
Politeknik Metal Sanayi ve Ticaret is oversold on RSI14 (12). 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 Monday 1st
For the upcoming trading day on Monday, 1st we expect Politeknik Metal Sanayi ve Ticaret Anonim Sirketi to open at TRY 8,495.83, and during the day (based on 14 day Average True Range), to move between TRY 7,532.28 and TRY 9,277.72, which gives a possible trading interval of +/-TRY 872.72 (+/-10.38%) 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 20.77% 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 8,400.00 (0.06%) than the resistance at TRY 8,940.00 (6.37%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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: -2.851 Sell Candidate Unchanged
Predicted Opening Price for Politeknik Metal Sanayi ve Ticaret Anonim Sirketi of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| TRY 8,495.83 ( 1.08%) | TRY 8,405.00 |
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 | 8,913.33 | 6.05% |
| R2 | 8,753.85 | 4.15% |
| R1 | 8,655.32 | 2.98% |
| Price | 8,405.00 | |
| S1 | 8,336.35 | -0.82% |
| S2 | 8,237.82 | -1.99% |
| S3 | 8,078.33 | -3.89% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10,332.50 | 22.93% |
| R2 | 9,300.00 | 10.65% |
| R1 | 8,940.00 | 6.37% |
| Price | 8,405.00 | |
| S1 | 8,400.00 | -0.0595% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
Click here for our free guide on how to buy Politeknik Metal Sanayi ve Ticaret Anonim Sirketi Stock.
