San-el Mühendislik Elektrik Taahhüt Stock Forecast
High volatility in San-el Mühendislik Elektrik Taahhüt stock price on Monday which ended trading at TRY 36.84
(Updated on May 13, 2024)
The San-el Mühendislik Elektrik Taahhüt stock price gained 6.47% on the last trading day (Monday, 13th May 2024), rising from TRY 34.60 to TRY 36.84. It has now gained 4 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 16.32% from a day low at TRY 32.72 to a day high of TRY 38.06. The price has risen in 7 of the last 10 days and is up by 24.88% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately TRY 161.72 million.
Given the current short-term trend, the stock is expected to rise 2.47% during the next 3 months and, with a 90% probability hold a price between TRY 26.72 and TRY 37.75 at the end of this 3-month period.
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SANEL.IS Signals & Forecast
Mostly positive signals in the chart today. The San-el Mühendislik Elektrik Taahhüt 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 32.13 and TRY 29.12. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 04, 2024, and so far it has risen 43.12%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for San-el Mühendislik Elektrik Taahhüt stock
On the downside, the stock finds support just below today's level from accumulated volume at TRY 34.60 and TRY 31.46. 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, San-el Mühendislik Elektrik Taahhüt finds support just below today's level at TRY 34.60. If this is broken, then the next support from accumulated volume will be at TRY 31.46 and TRY 30.50.
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 5.34 between high and low, or 16.32%. For the last week, the stock has had daily average volatility of 8.86%.
The San-el Mühendislik Elektrik Taahhüt stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: TRY 35.51 (-3.62%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 83 and this increases the risk substantially. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (SANEL.IS) For The Upcoming Trading Day Of Tuesday 14th
For the upcoming trading day on Tuesday, 14th we expect San-el Mühendislik Elektrik Taahhüt Sanayi ve Ticaret A.S. to open at TRY 35.87, and during the day (based on 14 day Average True Range), to move between TRY 34.77 and TRY 38.91, which gives a possible trading interval of +/-TRY 2.07 (+/-5.62%) up or down from last closing price. If San-el Mühendislik Elektrik Taahhüt Sanayi ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 11.23% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ TRY 34.60, some TRY 2.24 (6.08%) from the current price of TRY 36.84, our system finds the risk reward attractive.
Is San-el Mühendislik Elektrik Taahhüt Sanayi ve Ticaret A.S. stock A Buy?
San-el Mühendislik Elektrik Taahhüt holds several positive signals and is within a weak 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 Hold/Accumulate to a Strong Buy candidate.
Current score: 7.626 Strong Buy Candidate Upgraded
Predicted Opening Price for San-el Mühendislik Elektrik Taahhüt Sanayi ve Ticaret A.S. of Tuesday, May 14, 2024
| Fair opening price May 14, 2024 | Current price |
|---|---|
| TRY 35.87 ( 2.62%) | TRY 36.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SANEL.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 41.21 | 11.87 % | |
| R2 | 39.17 | 6.33 % | ||
| R1 | 37.91 | 2.91 % | ||
| Current price: | 36.84 | |||
| Support | S1 | 33.83 | -8.16 % | |
| S2 | 32.57 | -11.58 % | ||
| S3 | 30.53 | -17.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 36.84 | |||
| Support | S1 | 34.60 | -6.08% | |
| S2 | 31.46 | -14.60% | ||
| S3 | 30.50 | -17.21% |
FAQ
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