Sekerbank T.A.S. Stock Forecast
Sekerbank T.A.S. stock downgraded to Sell Candidate
(Updated on May 13, 2024)
The Sekerbank T.A.S. stock price fell by -4.81% on the last day (Monday, 13th May 2024) from TRY 4.99 to TRY 4.75. During the last trading day the stock fluctuated 6.99% from a day low at TRY 4.72 to a day high of TRY 5.05. The price has risen in 6 of the last 10 days but is still down by -2.66% for this period. 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 -65 million shares and in total, 67 million shares were bought and sold for approximately TRY 316.36 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Sekerbank T.A.S. stock with a 90% probability to be traded between TRY 4.04 and TRY 4.96 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SKBNK.IS Signals & Forecast
The Sekerbank T.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 4.86. On a fall, the stock will find some support from the long-term average at approximately TRY 4.59. 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. 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 10, 2024, and so far it has fallen -4.81%. 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 Sekerbank T.A.S. stock
Sekerbank T.A.S. finds support from accumulated volume at TRY 4.56 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 0.330 (6.99%) between high and low. For the last week, the stock has had daily average volatility of 3.98%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SKBNK.IS) For The Upcoming Trading Day Of Tuesday 14th
For the upcoming trading day on Tuesday, 14th we expect Sekerbank T.A.S. to open at TRY 4.84, and during the day (based on 14 day Average True Range), to move between TRY 4.58 and TRY 4.92, which gives a possible trading interval of +/-TRY 0.172 (+/-3.62%) 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 7.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at TRY 4.76 (0.21%) than the support at TRY 4.56 (4.00%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Sekerbank T.A.S. stock A Buy?
Sekerbank T.A.S. holds several negative signals and we believe that 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 Buy to a Sell candidate.
Current score: -2.064 Sell Candidate Downgraded
Predicted Opening Price for Sekerbank T.A.S. of Tuesday, May 14, 2024
| Fair opening price May 14, 2024 | Current price |
|---|---|
| TRY 4.84 ( 1.89%) | TRY 4.75 |
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 | 5.17 | 8.84 % | |
| R2 | 5.04 | 6.19 % | ||
| R1 | 4.97 | 4.55 % | ||
| Current price: | 4.75 | |||
| Support | S1 | 4.71 | -0.759 % | |
| S2 | 4.64 | -2.40 % | ||
| S3 | 4.51 | -5.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.92 | 3.58 % | |
| R2 | 4.85 | 2.11 % | ||
| R1 | 4.76 | 0.211 % | ||
| Current price | 4.75 | |||
| Support | S1 | 4.56 | -4.00% | |
| S2 | 4.37 | -8.00% | ||
| S3 | 4.36 | -8.21% |
SKBNK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 13, 2024 | May 13, 2024 | May 15, 2024 | TRY 0.0616 | 1.29% |
| 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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