Sanifoam Sünger Sanayi ve Ticaret A.S. Stock Forecast
Big movements in Sanifoam Sünger Sanayi ve Ticaret A.S. stock price on Monday moving 12.29% between high and low
(Updated on May 13, 2024)
The Sanifoam Sünger Sanayi ve Ticaret A.S. stock price fell by -3.57% on the last day (Monday, 13th May 2024) from TRY 56.00 to TRY 54.00. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 12.29% from a day low at TRY 50.45 to a day high of TRY 56.65. The price has fallen in 6 of the last 10 days and is down by -13.04% for this period. Volume has increased on the last day by 101 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, 574 thousand shares were bought and sold for approximately TRY 31.01 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at TRY 53.85 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -8.25% during the next 3 months and, with a 90% probability hold a price between TRY 49.41 and TRY 64.02 at the end of this 3-month period.
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SANFM.IS Signals & Forecast
There are few to no technical positive signals at the moment. 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. 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 58.71 and TRY 62.66. 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 -24.26%. Further fall is indicated until a new bottom pivot has been found. 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 Sanifoam Sünger Sanayi ve Ticaret A.S. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 6.20 between high and low, or 12.29%. For the last week, the stock has had daily average volatility of 6.43%.
Sanifoam Sünger Sanayi ve Ticaret A.S. is oversold on RSI14 (17). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
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 Tuesday 14th
For the upcoming trading day on Tuesday, 14th we expect Sanifoam Sünger Sanayi ve Ticaret A.S. to open at TRY 53.70, and during the day (based on 14 day Average True Range), to move between TRY 50.41 and TRY 57.59, which gives a possible trading interval of +/-TRY 3.59 (+/-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 13.29% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ TRY 62.10, some TRY 8.10 (15.00%) from the current price of TRY 54.00, our system finds the risk reward not very attractive.
Is Sanifoam Sünger Sanayi ve Ticaret A.S. stock A Buy?
Sanifoam Sünger Sanayi ve Ticaret A.S. holds several negative signals and is within a very 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.448 Strong Sell Candidate Downgraded
Predicted Opening Price for Sanifoam Sünger Sanayi ve Ticaret A.S. of Tuesday, May 14, 2024
| Fair opening price May 14, 2024 | Current price |
|---|---|
| TRY 53.70 ( 0.556%) | TRY 54.00 |
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 | 59.90 | 10.93 % | |
| R2 | 57.53 | 6.54 % | ||
| R1 | 56.07 | 3.83 % | ||
| Current price: | 54.00 | |||
| Support | S1 | 51.33 | -4.94 % | |
| S2 | 49.87 | -7.65 % | ||
| S3 | 47.50 | -12.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 66.00 | 22.22 % | |
| R2 | 64.55 | 19.54 % | ||
| R1 | 62.10 | 15.00 % | ||
| Current price | 54.00 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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