Smart Gunes Enerjisi Teknolojileri Stock Forecast
Evaluation of Smart Gunes Enerjisi Teknolojileri stock downgraded after the last trading session.
(Updated on May 17, 2024)
The Smart Gunes Enerjisi Teknolojileri stock price gained 0.99% on the last trading day (Friday, 17th May 2024), rising from TRY 55.35 to TRY 55.90. It has now gained 3 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 2.09% from a day low at TRY 54.90 to a day high of TRY 56.05. The price has fallen in 7 of the last 10 days and is down by -8.96% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 837 thousand more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately TRY 254.39 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -15.46% during the next 3 months and, with a 90% probability hold a price between TRY 40.57 and TRY 50.85 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SMRTG.IS Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, March 27, 2024, and so far it has risen 3.61%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Smart Gunes Enerjisi Teknolojileri stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at TRY 56.91. On a fall, the stock will find some support from the short-term average at TRY 55.68. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Smart Gunes Enerjisi Teknolojileri stock
Smart Gunes Enerjisi Teknolojileri finds support from accumulated volume at TRY 55.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved TRY 1.15 between high and low, or 2.09%. For the last week, the stock has had daily average volatility of 2.72%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SMRTG.IS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret A.S. to open at TRY 55.62, and during the day (based on 14 day Average True Range), to move between TRY 53.73 and TRY 58.07, which gives a possible trading interval of +/-TRY 2.17 (+/-3.89%) up or down from last closing price. If Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 7.77% 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 55.70 (0.36%) than the resistance at TRY 56.35 (0.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret A.S. stock A Buy?
Smart Gunes Enerjisi Teknolojileri 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 Hold/Accumulate to a Sell candidate.
Current score: -1.415 Sell Candidate Downgraded
Predicted Opening Price for Smart Gunes Enerjisi Teknolojileri Arastirma Gelistirme Uretim Sanayi ve Ticaret A.S. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| TRY 55.62 ( 0.507%) | TRY 55.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SMRTG.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 56.77 | 1.55 % | |
| R2 | 56.33 | 0.765 % | ||
| R1 | 56.06 | 0.279 % | ||
| Current price: | 55.90 | |||
| Support | S1 | 55.18 | -1.29 % | |
| S2 | 54.91 | -1.78 % | ||
| S3 | 54.47 | -2.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 61.40 | 9.84 % | |
| R2 | 57.65 | 3.13 % | ||
| R1 | 56.35 | 0.81 % | ||
| Current price | 55.90 | |||
| Support | S1 | 55.70 | -0.358% | |
| S2 | 55.50 | -0.716% | ||
| S3 | 55.00 | -1.61% |
FAQ
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