Park Elektrik Üretim Madencilik Sanayi Stock Forecast
Park Elektrik Üretim Madencilik Sanayi stock downgraded from Buy Candidate to Sell Candidate after Thursday trading session.
(Updated on May 23, 2024)
The Park Elektrik Üretim Madencilik Sanayi stock price fell by -0.738% on the last day (Thursday, 23rd May 2024) from TRY 24.38 to TRY 24.20. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.83% from a day low at TRY 24.04 to a day high of TRY 24.96. The price has fallen in 6 of the last 10 days and is down by -3.59% for this period. Volume has increased on the last day by 190 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, 1 million shares were bought and sold for approximately TRY 33.46 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 8.89% during the next 3 months and, with a 90% probability hold a price between TRY 23.74 and TRY 31.04 at the end of this 3-month period.
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PRKME.IS Signals & Forecast
There are few to no technical positive signals at the moment. The Park Elektrik Üretim Madencilik Sanayi stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at TRY 24.89 and TRY 24.23. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -12.64%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Park Elektrik Üretim Madencilik Sanayi stock
Park Elektrik Üretim Madencilik Sanayi finds support from accumulated volume at TRY 23.00 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 0.92 between high and low, or 3.83%. For the last week, the stock has had daily average volatility of 3.91%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PRKME.IS) For The Upcoming Trading Day Of Friday 24th
For the upcoming trading day on Friday, 24th we expect Park Elektrik Üretim Madencilik Sanayi ve Ticaret A.S. to open at TRY 24.40, and during the day (based on 14 day Average True Range), to move between TRY 23.11 and TRY 25.29, which gives a possible trading interval of +/-TRY 1.09 (+/-4.49%) up or down from last closing price. If Park Elektrik Üretim Madencilik Sanayi ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 8.98% 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 25.10 (3.72%) than the support at TRY 23.00 (4.96%), 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 Park Elektrik Üretim Madencilik Sanayi ve Ticaret A.S. stock A Buy?
The Park Elektrik Üretim Madencilik Sanayi stock holds several negative signals and despite the positive trend, we believe Park Elektrik Üretim Madencilik Sanayi will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -1.181 Sell Candidate Downgraded
Predicted Opening Price for Park Elektrik Üretim Madencilik Sanayi ve Ticaret A.S. of Friday, May 24, 2024
| Fair opening price May 24, 2024 | Current price |
|---|---|
| TRY 24.40 ( 0.83%) | TRY 24.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRKME.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.32 | 4.63 % | |
| R2 | 24.97 | 3.18 % | ||
| R1 | 24.75 | 2.28 % | ||
| Current price: | 24.20 | |||
| Support | S1 | 24.05 | -0.626 % | |
| S2 | 23.83 | -1.52 % | ||
| S3 | 23.48 | -2.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.74 | 6.36 % | |
| R2 | 25.18 | 4.05 % | ||
| R1 | 25.10 | 3.72 % | ||
| Current price | 24.20 | |||
| Support | S1 | 23.00 | -4.96% | |
| S2 | 22.68 | -6.28% | ||
| S3 | 22.40 | -7.44% |
FAQ
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