Sanica Isi Sanayi A.S. Stock Forecast
Sanica Isi Sanayi A.S. stock price up 0.284% on Tuesday
(Updated on Jun 25, 2024)
The Sanica Isi Sanayi A.S. stock price gained 0.284% on the last trading day (Tuesday, 25th Jun 2024), rising from TRY 7.05 to TRY 7.07. During the last trading day the stock fluctuated 5.18% from a day low at TRY 6.95 to a day high of TRY 7.31. The price has fallen in 6 of the last 10 days but is still up by 2.76% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 19 million more shares were traded than the day before. In total, 25 million shares were bought and sold for approximately TRY 180.21 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 -66.89% during the next 3 months and, with a 90% probability hold a price between TRY 0.720 and TRY 6.72 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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SNICA.IS Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 8.94%. 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 Sanica Isi Sanayi A.S. 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 16.95. On a fall, the stock will find some support from the short-term average at TRY 7.01. 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 Sanica Isi Sanayi A.S. stock
Sanica Isi Sanayi A.S. finds support from accumulated volume at TRY 6.88 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 0.360 between high and low, or 5.18%. For the last week, the stock has had daily average volatility of 5.31%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SNICA.IS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Sanica Isi Sanayi A.S. to open at TRY 7.11, and during the day (based on 14 day Average True Range), to move between TRY 6.03 and TRY 8.11, which gives a possible trading interval of +/-TRY 1.04 (+/-14.70%) up or down from last closing price. If Sanica Isi Sanayi A.S. takes out the full calculated possible swing range there will be an estimated 29.39% 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 7.20 (1.84%) than the support at TRY 6.88 (2.69%), 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 Sanica Isi Sanayi A.S. stock A Buy?
Sanica Isi Sanayi 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.
Current score: -1.807 Sell Candidate Unchanged
Predicted Opening Price for Sanica Isi Sanayi A.S. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| TRY 7.11 ( 0.566%) | TRY 7.07 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SNICA.IS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.47 | 5.66% |
| R2 | 7.33 | 3.71% |
| R1 | 7.25 | 2.51% |
| Price | 7.07 | |
| S1 | 6.97 | -1.38% |
| S2 | 6.89 | -2.58% |
| S3 | 6.75 | -4.53% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.29 | 17.26% |
| R2 | 8.00 | 13.15% |
| R1 | 7.20 | 1.84% |
| Price | 7.07 | |
| S1 | 6.88 | -2.69% |
| S2 | 6.71 | -5.09% |
| S3 | 6.49 | -8.20% |
FAQ
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