Rubenis Tekstil Sanayi Ticaret A.S. Stock Forecast
Rubenis Tekstil Sanayi Ticaret A.S. stock downgraded from Strong Buy Candidate to Buy Candidate after Friday trading session.
(Updated on May 03, 2024)
No changes to the price of Rubenis Tekstil Sanayi Ticaret A.S. stock on the last trading day (Friday, 3rd May 2024). During the last trading day the stock fluctuated 9.92% from a day low at TRY 35.48 to a day high of TRY 39.00. The price has risen in 7 of the last 10 days and is up by 26.16% over the past 2 weeks.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at TRY 38.08 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 14.13% during the next 3 months and, with a 90% probability hold a price between TRY 30.90 and TRY 43.46 at the end of this 3-month period.
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RUBNS.IS Signals & Forecast
The Rubenis Tekstil Sanayi Ticaret 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 37.04 and TRY 30.72. 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 Thursday, May 02, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.
Support, Risk & Stop-loss for Rubenis Tekstil Sanayi Ticaret A.S. stock
On the downside, the stock finds support just below today's level from accumulated volume at TRY 32.12 and TRY 30.72. 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, Rubenis Tekstil Sanayi Ticaret A.S. finds support just below today's level at TRY 32.12. If this is broken, then the next support from accumulated volume will be at TRY 30.72 and TRY 30.00.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved TRY 3.52 between high and low, or 9.92%. For the last week, the stock has had daily average volatility of 7.87%.
Our recommended stop-loss: TRY 36.62 (-3.64%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (RUBNS.IS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Rubenis Tekstil Sanayi Ticaret A.S. to open at TRY 37.49, and during the day (based on 14 day Average True Range), to move between TRY 35.85 and TRY 40.15, which gives a possible trading interval of +/-TRY 2.15 (+/-5.66%) up or down from last closing price. If Rubenis Tekstil Sanayi Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 11.33% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ TRY 32.12, some TRY 5.88 (15.47%) from the current price of TRY 38.00, our system finds the risk reward attractive.
Is Rubenis Tekstil Sanayi Ticaret A.S. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Rubenis Tekstil Sanayi Ticaret A.S. stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 1.996 Buy Candidate Downgraded
Predicted Opening Price for Rubenis Tekstil Sanayi Ticaret A.S. of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
TRY 37.49 ( 1.33%) | TRY 38.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RUBNS.IS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 41.01 | 7.93 % | |
R2 | 39.67 | 4.39 % | ||
R1 | 38.84 | 2.21 % | ||
Current price: | 38.00 | |||
Support | S1 | 36.15 | -4.87 % | |
S2 | 35.32 | -7.06 % | ||
S3 | 33.97 | -10.60 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 38.00 | |||
Support | S1 | 32.12 | -15.47% | |
S2 | 30.72 | -19.16% | ||
S3 | 30.00 | -21.05% |
FAQ
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