Sanifoam Sünger Sanayi ve Ticaret A.S. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Sanifoam Sünger Sanayi ve Ticaret A.S. stock price ended at TRY 56.00 on Friday, after losing 4.76%.
(Updated on May 10, 2024)
The Sanifoam Sünger Sanayi ve Ticaret A.S. stock price fell by -4.76% on the last day (Friday, 10th May 2024) from TRY 58.80 to TRY 56.00. During the last trading day the stock fluctuated 7.79% from a day low at TRY 54.55 to a day high of TRY 58.80. The price has fallen in 6 of the last 10 days and is down by -11.32% for this period. Volume has increased on the last day by 207 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, 473 thousand shares were bought and sold for approximately TRY 26.49 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 55.49 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -5.62% during the next 3 months and, with a 90% probability hold a price between TRY 52.37 and TRY 66.42 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 59.57 and TRY 62.97. 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 -21.46%. 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 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 4.25 between high and low, or 7.79%. For the last week, the stock has had daily average volatility of 4.63%.
Sanifoam Sünger Sanayi ve Ticaret A.S. is oversold on RSI14 (19). 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 Monday 13th
For the upcoming trading day on Monday, 13th we expect Sanifoam Sünger Sanayi ve Ticaret A.S. to open at TRY 56.45, and during the day (based on 14 day Average True Range), to move between TRY 52.62 and TRY 59.38, which gives a possible trading interval of +/-TRY 3.38 (+/-6.04%) 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 12.08% 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 6.10 (10.89%) from the current price of TRY 56.00, 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.
Current score: -4.861 Sell Candidate Unchanged
Predicted Opening Price for Sanifoam Sünger Sanayi ve Ticaret A.S. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| TRY 56.45 ( 0.80%) | TRY 56.00 |
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 | 60.70 | 8.39 % | |
| R2 | 59.08 | 5.49 % | ||
| R1 | 58.07 | 3.70 % | ||
| Current price: | 56.00 | |||
| Support | S1 | 54.83 | -2.10 % | |
| S2 | 53.82 | -3.89 % | ||
| S3 | 52.20 | -6.79 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 67.80 | 21.07 % | |
| R2 | 66.00 | 17.86 % | ||
| R1 | 62.10 | 10.89 % | ||
| Current price | 56.00 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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