Seyitler Kimya Sanayi A.S. Stock Forecast
Red day on Friday for Seyitler Kimya Sanayi A.S. stock after losing 1.79%
(Updated on May 31, 2024)
The Seyitler Kimya Sanayi A.S. stock price fell by -1.79% on the last day (Friday, 31st May 2024) from TRY 8.40 to TRY 8.25. During the last trading day the stock fluctuated 3.04% from a day low at TRY 8.23 to a day high of TRY 8.48. The price has been going up and down for this period, and there has been a -12.23% loss for the last 2 weeks. 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 -3 million shares and in total, 3 million shares were bought and sold for approximately TRY 27.80 million.
Given the current short-term trend, the stock is expected to rise 50.19% during the next 3 months and, with a 90% probability hold a price between TRY 12.39 and TRY 18.82 at the end of this 3-month period.
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SEYKM.IS Signals & Forecast
There are few to no technical positive signals at the moment. The Seyitler Kimya Sanayi 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 8.83 and TRY 8.72. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen -25.74%. 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 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 Seyitler Kimya Sanayi A.S. stock
Seyitler Kimya Sanayi A.S. finds support from accumulated volume at TRY 8.19 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 0.250 between high and low, or 3.04%. For the last week, the stock has had daily average volatility of 6.29%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SEYKM.IS) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Seyitler Kimya Sanayi A.S. to open at TRY 8.32, and during the day (based on 14 day Average True Range), to move between TRY 7.71 and TRY 8.79, which gives a possible trading interval of +/-TRY 0.536 (+/-6.50%) up or down from last closing price. If Seyitler Kimya Sanayi A.S. takes out the full calculated possible swing range there will be an estimated 12.99% 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 8.19 (0.73%) than the resistance at TRY 8.63 (4.61%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Seyitler Kimya Sanayi A.S. stock A Buy?
The Seyitler Kimya Sanayi A.S. stock holds several negative signals and despite the positive trend, we believe Seyitler Kimya Sanayi A.S. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.924 Sell Candidate Unchanged
Predicted Opening Price for Seyitler Kimya Sanayi A.S. of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| TRY 8.32 ( 0.85%) | TRY 8.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SEYKM.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.57 | 3.88 % | |
| R2 | 8.47 | 2.72 % | ||
| R1 | 8.42 | 2.01 % | ||
| Current price: | 8.25 | |||
| Support | S1 | 8.22 | -0.309 % | |
| S2 | 8.17 | -1.02 % | ||
| S3 | 8.07 | -2.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.02 | 21.45 % | |
| R2 | 9.94 | 20.48 % | ||
| R1 | 8.63 | 4.61 % | ||
| Current price | 8.25 | |||
| Support | S1 | 8.19 | -0.727% | |
| S2 | 6.98 | -15.39% | ||
| S3 | 6.84 | -17.09% |
FAQ
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