Park Elektrik Üretim Madencilik Sanayi Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Weaker technical forecast for Park Elektrik Üretim Madencilik Sanayi as stock downgraded to Hold/Accumulate.
(Updated on Jun 25, 2024)
The Park Elektrik Üretim Madencilik Sanayi stock price fell by -1.96% on the last day (Tuesday, 25th Jun 2024) from TRY 25.46 to TRY 24.96. During the last trading day the stock fluctuated 3.14% from a day low at TRY 24.84 to a day high of TRY 25.62. The price has risen in 7 of the last 10 days and is up by 5.32% over the past 2 weeks. 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 -1 million shares and in total, 852 thousand shares were bought and sold for approximately TRY 21.26 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 7.31% during the next 3 months and, with a 90% probability hold a price between TRY 23.97 and TRY 31.22 at the end of this 3-month period.
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PRKME.IS Signals & Forecast
The Park Elektrik Üretim Madencilik Sanayi 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 24.56 and TRY 24.51. A breakdown below any of these levels will issue sell signals. 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 Wednesday, April 24, 2024, and so far it has fallen -9.89%. Further fall is indicated until a new bottom pivot has been found. 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 Park Elektrik Üretim Madencilik Sanayi stock
Park Elektrik Üretim Madencilik Sanayi finds support from accumulated volume at TRY 24.88 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 0.780 between high and low, or 3.14%. For the last week, the stock has had daily average volatility of 3.53%.
Our recommended stop-loss: TRY 23.51 (-5.82%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 51 days ago.)
Trading Expectations (PRKME.IS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Park Elektrik Üretim Madencilik Sanayi ve Ticaret A.S. to open at TRY 25.14, and during the day (based on 14 day Average True Range), to move between TRY 24.06 and TRY 25.86, which gives a possible trading interval of +/-TRY 0.90 (+/-3.61%) 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 7.21% 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 24.88 (0.32%) than the resistance at TRY 25.18 (0.88%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Park Elektrik Üretim Madencilik Sanayi ve Ticaret A.S. stock A Buy?
Park Elektrik Üretim Madencilik Sanayi 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: 0.681 Hold/Accumulate Downgraded
Predicted Opening Price for Park Elektrik Üretim Madencilik Sanayi ve Ticaret A.S. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| TRY 25.14 ( 0.721%) | TRY 24.96 |
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 | |
|---|---|---|
| R3 | 25.92 | 3.85% |
| R2 | 25.62 | 2.65% |
| R1 | 25.44 | 1.91% |
| Price | 24.96 | |
| S1 | 24.84 | -0.473% |
| S2 | 24.66 | -1.21% |
| S3 | 24.36 | -2.40% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 26.10 | 4.57% |
| R2 | 25.74 | 3.12% |
| R1 | 25.18 | 0.88% |
| Price | 24.96 | |
| S1 | 24.88 | -0.321% |
| S2 | 24.64 | -1.28% |
| S3 | 24.50 | -1.84% |
FAQ
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