Sanifoam Sünger Sanayi ve Ticaret A.S. Stock Forecast
Stronger technical forecast for Sanifoam Sünger Sanayi ve Ticaret A.S. stock price after Friday trading.
(Updated on Apr 26, 2024)
The Sanifoam Sünger Sanayi ve Ticaret A.S. stock price fell by -1.66% on the last day (Friday, 26th Apr 2024) from TRY 63.15 to TRY 62.10. During the last trading day the stock fluctuated 4.41% from a day low at TRY 61.25 to a day high of TRY 63.95. The price has risen in 6 of the last 10 days but is still down by -2.97% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -48 thousand shares and in total, 315 thousand shares were bought and sold for approximately TRY 19.54 million.
The stock lies in the middle of a very 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 13.49% during the next 3 months and, with a 90% probability hold a price between TRY 59.72 and TRY 81.56 at the end of this 3-month period.
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SANFM.IS Signals & Forecast
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. The Sanifoam Sünger Sanayi ve Ticaret A.S. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at TRY 66.09 and TRY 64.00. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -12.90%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Sanifoam Sünger Sanayi ve Ticaret A.S. stock
On the downside, the stock finds support just below today's level from accumulated volume at TRY 58.40 and TRY 51.25. 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, Sanifoam Sünger Sanayi ve Ticaret A.S. finds support just below today's level at TRY 58.40. If this is broken, then the next support from accumulated volume will be at TRY 51.25 and TRY 50.10.
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 2.70 between high and low, or 4.41%. For the last week, the stock has had daily average volatility of 5.72%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SANFM.IS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Sanifoam Sünger Sanayi ve Ticaret A.S. to open at TRY 62.43, and during the day (based on 14 day Average True Range), to move between TRY 57.98 and TRY 66.22, which gives a possible trading interval of +/-TRY 4.12 (+/-6.64%) up or down from last closing price. If Sanifoam Sünger Sanayi ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 13.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at TRY 64.55 (3.95%) than the support at TRY 58.40 (5.96%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Sanifoam Sünger Sanayi ve Ticaret A.S. stock A Buy?
The Sanifoam Sünger Sanayi ve Ticaret A.S. stock holds several negative signals and despite the positive trend, we believe Sanifoam Sünger Sanayi ve Ticaret A.S. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.527 Sell Candidate Upgraded
Predicted Opening Price for Sanifoam Sünger Sanayi ve Ticaret A.S. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| TRY 62.43 ( 0.537%) | TRY 62.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SANFM.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 65.13 | 4.88 % | |
| R2 | 64.10 | 3.22 % | ||
| R1 | 63.46 | 2.20 % | ||
| Current price: | 62.10 | |||
| Support | S1 | 61.40 | -1.12 % | |
| S2 | 60.76 | -2.15 % | ||
| S3 | 59.73 | -3.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 67.80 | 9.18 % | |
| R2 | 66.00 | 6.28 % | ||
| R1 | 64.55 | 3.95 % | ||
| Current price | 62.10 | |||
| Support | S1 | 58.40 | -5.96% | |
| S2 | 51.25 | -17.47% | ||
| S3 | 50.10 | -19.32% |
FAQ
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