Söktas Tekstil Sanayi Ve Ticaret A.S. Stock Forecast

Söktas Tekstil Sanayi Ve Ticaret A.S. stock price fell more than -5.59% Friday closing at TRY 5.40
(Updated on May 31, 2024)

SKTAS.IS Signals & Forecast

There are few to no technical positive signals at the moment. The Söktas Tekstil Sanayi Ve Ticaret A.S. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at TRY 5.77 and TRY 6.10. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen -26.03%. 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 Söktas Tekstil Sanayi Ve Ticaret A.S. stock

Söktas Tekstil Sanayi Ve Ticaret A.S. finds support from accumulated volume at TRY 5.33 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 0.380 between high and low, or 7.06%. For the last week, the stock has had daily average volatility of 6.48%.

Söktas Tekstil Sanayi Ve Ticaret A.S. is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (SKTAS.IS) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Söktas Tekstil Sanayi Ve Ticaret A.S. to open at TRY 5.51, and during the day (based on 14 day Average True Range), to move between TRY 4.98 and TRY 5.82, which gives a possible trading interval of +/-TRY 0.421 (+/-7.80%) 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 15.60% 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 5.33 (1.30%) than the resistance at TRY 6.02 (11.48%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

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

The Söktas Tekstil Sanayi Ve Ticaret A.S. stock holds several negative signals and despite the positive trend, we believe Söktas Tekstil Sanayi Ve Ticaret A.S. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -1.760 Sell Candidate Unchanged

Predicted Opening Price for Söktas Tekstil Sanayi Ve Ticaret A.S. of Monday, June 3, 2024

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