Rainbow Polikarbonat Sanayi Ticaret Stock Forecast
Rainbow Polikarbonat Sanayi Ticaret stock price ended at TRY 28.90 on Friday, after losing 0.89%.
(Updated on Jun 28, 2024)
The Rainbow Polikarbonat Sanayi Ticaret stock price fell by -0.89% on the last day (Friday, 28th Jun 2024) from TRY 29.16 to TRY 28.90. During the last trading day the stock fluctuated 1.88% from a day low at TRY 28.80 to a day high of TRY 29.34. The price has fallen in 7 of the last 10 days but is still up by 2.48% over the past 2 weeks. Volume has increased on the last day by 84 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, 314 thousand shares were bought and sold for approximately TRY 9.07 million.
The stock lies in the middle of a 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 -21.86% during the next 3 months and, with a 90% probability hold a price between TRY 20.25 and TRY 24.48 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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RNPOL.IS Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 5.86%. 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 Rainbow Polikarbonat Sanayi 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 29.55 and TRY 31.99. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Rainbow Polikarbonat Sanayi Ticaret stock
Rainbow Polikarbonat Sanayi Ticaret finds support from accumulated volume at TRY 28.44 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 0.540 between high and low, or 1.88%. For the last week, the stock has had daily average volatility of 4.84%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RNPOL.IS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Rainbow Polikarbonat Sanayi Ticaret Anonim Sirketi to open at TRY 29.01, and during the day (based on 14 day Average True Range), to move between TRY 27.34 and TRY 30.46, which gives a possible trading interval of +/-TRY 1.56 (+/-5.39%) up or down from last closing price. If Rainbow Polikarbonat Sanayi Ticaret Anonim Sirketi takes out the full calculated possible swing range there will be an estimated 10.78% 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 28.44 (1.59%) than the resistance at TRY 32.30 (11.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Rainbow Polikarbonat Sanayi Ticaret Anonim Sirketi stock A Buy?
Rainbow Polikarbonat Sanayi Ticaret holds several negative signals and is within a 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: -1.642 Sell Candidate Unchanged
Predicted Opening Price for Rainbow Polikarbonat Sanayi Ticaret Anonim Sirketi of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| TRY 29.01 ( 0.392%) | TRY 28.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RNPOL.IS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 29.55 | 2.26% |
| R2 | 29.35 | 1.55% |
| R1 | 29.22 | 1.11% |
| Price | 28.90 | |
| S1 | 28.81 | -0.322% |
| S2 | 28.68 | -0.763% |
| S3 | 28.47 | -1.48% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 34.20 | 18.34% |
| R2 | 32.40 | 12.11% |
| R1 | 32.30 | 11.76% |
| Price | 28.90 | |
| S1 | 28.44 | -1.59% |
| S2 | 28.20 | -2.42% |
| S3 | 27.30 | -5.54% |
FAQ
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