Söktas Tekstil Sanayi Ve Ticaret A.S. Stock Forecast

High volatility in Söktas Tekstil Sanayi Ve Ticaret A.S. stock price on Thursday which ended trading at TRY 7.30
(Updated on May 09, 2024)

SKTAS.IS Signals & Forecast

Mostly positive signals in the chart today. The Söktas Tekstil Sanayi Ve Ticaret 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 6.73 and TRY 5.39. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 04, 2024, and so far it has risen 71.76%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for Söktas Tekstil Sanayi Ve Ticaret A.S. stock

On the downside, the stock finds support just below today's level from accumulated volume at TRY 6.48 and TRY 6.36. 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, Söktas Tekstil Sanayi Ve Ticaret A.S. finds support just below today's level at TRY 6.48. If this is broken, then the next support from accumulated volume will be at TRY 6.36 and TRY 6.02.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved TRY 0.790 between high and low, or 11.48%. For the last week, the stock has had daily average volatility of 8.77%.

Our recommended stop-loss: TRY 6.90 (-5.50%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 20 days ago.)

Trading Expectations (SKTAS.IS) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect Söktas Tekstil Sanayi Ve Ticaret A.S. to open at TRY 7.28, and during the day (based on 14 day Average True Range), to move between TRY 6.82 and TRY 7.78, which gives a possible trading interval of +/-TRY 0.480 (+/-6.58%) up or down from last closing price. If Söktas Tekstil Sanayi Ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 13.15% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ TRY 6.48, some TRY 0.82 (11.23%) from the current price of TRY 7.30, our system finds the risk reward attractive.

Is Söktas Tekstil Sanayi Ve Ticaret A.S. stock A Buy?

Söktas Tekstil Sanayi Ve Ticaret A.S. holds several positive signals and is within a strong 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.

Current score: 7.375 Strong Buy Candidate Unchanged

Predicted Opening Price for Söktas Tekstil Sanayi Ve Ticaret A.S. of Friday, May 10, 2024

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