Rubenis Tekstil Sanayi Ticaret A.S. Stock Forecast

Weaker technical forecast for Rubenis Tekstil Sanayi Ticaret A.S. as stock downgraded to Buy Candidate.
(Updated on May 17, 2024)

RUBNS.IS Signals & Forecast

Mostly positive signals in the chart today. 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 41.59 and TRY 34.23. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 26, 2024, and so far it has risen 77.10%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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.

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 38.00 and TRY 36.58. 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 38.00. If this is broken, then the next support from accumulated volume will be at TRY 36.58 and TRY 36.02.

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 3.40 between high and low, or 8.00%. For the last week, the stock has had daily average volatility of 7.09%.

Since the Rubenis Tekstil Sanayi Ticaret A.S. has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: TRY 43.34 (-3.04%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 33 days ago.)

Trading Expectations (RUBNS.IS) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Rubenis Tekstil Sanayi Ticaret A.S. to open at TRY 44.37, and during the day (based on 14 day Average True Range), to move between TRY 42.37 and TRY 47.03, which gives a possible trading interval of +/-TRY 2.33 (+/-5.20%) 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 10.41% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ TRY 38.00, some TRY 6.70 (14.99%) from the current price of TRY 44.70, 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: 4.563 Buy Candidate Downgraded

Predicted Opening Price for Rubenis Tekstil Sanayi Ticaret A.S. of Monday, May 20, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.