Sekerbank T.A.S. Stock Forecast
Sekerbank T.A.S. stock upgraded from Buy Candidate to Strong Buy Candidate after Monday trading session.
(Updated on May 20, 2024)
The Sekerbank T.A.S. stock price gained 4.15% on the last trading day (Monday, 20th May 2024), rising from TRY 5.06 to TRY 5.27. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.74% from a day low at TRY 5.06 to a day high of TRY 5.30. The price has risen in 8 of the last 10 days and is up by 8.66% over the past 2 weeks. Volume fell on the last day by -3 million shares and in total, 102 million shares were bought and sold for approximately TRY 539.80 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a very wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at TRY 5.38 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 7.32% during the next 3 months and, with a 90% probability hold a price between TRY 4.60 and TRY 5.77 at the end of this 3-month period.
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SKBNK.IS Signals & Forecast
The Sekerbank T.A.S. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at TRY 4.97 and TRY 4.68. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 27, 2024, and so far it has risen 29.17%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Sekerbank T.A.S. stock
On the downside, the stock finds support just below today's level from accumulated volume at TRY 4.92 and TRY 4.85. 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, Sekerbank T.A.S. finds support just below today's level at TRY 4.92. If this is broken, then the next support from accumulated volume will be at TRY 4.85 and TRY 4.37.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved TRY 0.240 (4.74%) between high and low. For the last week, the stock has had daily average volatility of 3.29%.
Our recommended stop-loss: TRY 5.10 (-3.18%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 65 days ago.)
Trading Expectations (SKBNK.IS) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Sekerbank T.A.S. to open at TRY 5.21, and during the day (based on 14 day Average True Range), to move between TRY 5.10 and TRY 5.44, which gives a possible trading interval of +/-TRY 0.172 (+/-3.27%) up or down from last closing price. If Sekerbank T.A.S. takes out the full calculated possible swing range there will be an estimated 6.54% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ TRY 4.92, some TRY 0.350 (6.64%) from the current price of TRY 5.27, our system finds the risk reward attractive.
Is Sekerbank T.A.S. stock A Buy?
Sekerbank T.A.S. holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.282 Strong Buy Candidate Upgraded
Predicted Opening Price for Sekerbank T.A.S. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| TRY 5.21 ( 1.14%) | TRY 5.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SKBNK.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.45 | 3.42 % | |
| R2 | 5.36 | 1.68 % | ||
| R1 | 5.30 | 0.601 % | ||
| Current price: | 5.27 | |||
| Support | S1 | 5.12 | -2.88 % | |
| S2 | 5.06 | -3.95 % | ||
| S3 | 4.97 | -5.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 5.27 | |||
| Support | S1 | 4.92 | -6.64% | |
| S2 | 4.85 | -7.97% | ||
| S3 | 4.37 | -17.08% |
SKBNK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 13, 2024 | May 13, 2024 | May 15, 2024 | TRY 0.0616 | 1.26% |
| 2 | Apr 10, 2023 | Apr 10, 2023 | Apr 10, 2023 | TRY 0.0565 | 2.27% |
| 3 | May 31, 2011 | May 31, 2011 | May 31, 2011 | TRY 0.0131 | 1.60% |
| 4 | Apr 30, 2010 | Apr 30, 2010 | Apr 30, 2010 | TRY 0.0137 | 1.42% |
| 5 | May 22, 2008 | May 22, 2008 | May 22, 2008 | TRY 0.0241 | 3.21% |
FAQ
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