Sasa Polyester Sanayi A.S. Stock Forecast

Weaker technical forecast for Sasa Polyester Sanayi A.S. as stock downgraded to Hold/Accumulate.
(Updated on May 10, 2024)

SASA.IS Signals & Forecast

The Sasa Polyester Sanayi A.S. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately TRY 45.54. On a fall, the stock will find some support from the long-term average at approximately TRY 41.11. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen -4.28%. 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. The stock had a Golden Star Signal on Thursday, April 25, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Sasa Polyester Sanayi A.S. stock

Sasa Polyester Sanayi A.S. finds support from accumulated volume at TRY 44.16 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 1.66 between high and low, or 3.72%. For the last week, the stock has had daily average volatility of 3.75%.

Our recommended stop-loss: TRY 42.53 (-4.86%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (SASA.IS) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Sasa Polyester Sanayi A.S. to open at TRY 45.24, and during the day (based on 14 day Average True Range), to move between TRY 42.93 and TRY 46.47, which gives a possible trading interval of +/-TRY 1.77 (+/-3.97%) up or down from last closing price. If Sasa Polyester Sanayi A.S. takes out the full calculated possible swing range there will be an estimated 7.94% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at TRY 44.16 (1.21%) than the resistance at TRY 46.12 (3.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Sasa Polyester Sanayi A.S. stock A Buy?

Sasa Polyester Sanayi A.S. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.674 Hold/Accumulate Downgraded

Predicted Opening Price for Sasa Polyester Sanayi A.S. of Monday, May 13, 2024

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