Ray Sigorta A.S. Stock Forecast
Ray Sigorta A.S. stock upgraded from Buy Candidate to Strong Buy Candidate after Friday trading session.
(Updated on May 10, 2024)
The Ray Sigorta A.S. stock price gained 1.52% on the last trading day (Friday, 10th May 2024), rising from TRY 492.50 to TRY 500.00. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.67% from a day low at TRY 484.25 to a day high of TRY 502.00. The price has risen in 7 of the last 10 days and is up by 2.67% over the past 2 weeks. Volume fell on the last day by -74 thousand shares and in total, 107 thousand shares were bought and sold for approximately TRY 53.61 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong 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 89.54% during the next 3 months and, with a 90% probability hold a price between TRY 866.38 and TRY 998.94 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
RAYSG.IS Signals & Forecast
The Ray Sigorta 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 467.61 and TRY 442.57. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 03, 2024, and so far it has risen 14.68%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Ray Sigorta A.S. stock
On the downside, the stock finds support just below today's level from accumulated volume at TRY 436.00 and TRY 427.25. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Ray Sigorta A.S. finds support just below today's level at TRY 436.00. If this is broken, then the next support from accumulated volume will be at TRY 427.25 and TRY 376.00.
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 17.75 between high and low, or 3.67%. For the last week, the stock has had daily average volatility of 6.43%.
Our recommended stop-loss: TRY 483.60 (-3.28%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (RAYSG.IS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Ray Sigorta A.S. to open at TRY 495.42, and during the day (based on 14 day Average True Range), to move between TRY 475.22 and TRY 524.78, which gives a possible trading interval of +/-TRY 24.78 (+/-4.96%) up or down from last closing price. If Ray Sigorta A.S. takes out the full calculated possible swing range there will be an estimated 9.91% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ TRY 436.00, some TRY 64.00 (12.80%) from the current price of TRY 500.00, our system finds the risk reward attractive.
Is Ray Sigorta A.S. stock A Buy?
Ray Sigorta A.S. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.233 Strong Buy Candidate Upgraded
Predicted Opening Price for Ray Sigorta A.S. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| TRY 495.42 ( 0.92%) | TRY 500.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RAYSG.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 513.17 | 2.63 % | |
| R2 | 506.39 | 1.28 % | ||
| R1 | 502.20 | 0.439 % | ||
| Current price: | 500.00 | |||
| Support | S1 | 488.64 | -2.27 % | |
| S2 | 484.45 | -3.11 % | ||
| S3 | 477.67 | -4.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 500.00 | |||
| Support | S1 | 436.00 | -12.80% | |
| S2 | 427.25 | -14.55% | ||
| S3 | 376.00 | -24.80% |
FAQ
Click here for our free guide on how to buy Ray Sigorta A.S. Stock.
