Sönmez Pamuklu Sanayii Anonim Sirketi Stock Forecast

Sönmez Pamuklu Sanayii Anonim Sirketi stock price ended at TRY 91.90 on Friday, after losing 1.18%.
(Updated on May 31, 2024)

SNPAM.IS Signals & Forecast

There are few to no technical positive signals at the moment. The Sönmez Pamuklu Sanayii Anonim Sirketi 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 95.46 and TRY 100.18. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 08, 2024, and so far it has fallen -24.24%. 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 Sönmez Pamuklu Sanayii Anonim Sirketi stock

Sönmez Pamuklu Sanayii Anonim Sirketi finds support from accumulated volume at TRY 88.00 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 0.150 between high and low, or 0.163%. For the last week, the stock has had daily average volatility of 2.08%.

Our recommended stop-loss: TRY 87.04 (-5.29%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 22 days ago.)

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

For the upcoming trading day on Monday, 3rd we expect Sönmez Pamuklu Sanayii Anonim Sirketi to open at TRY 91.92, and during the day (based on 14 day Average True Range), to move between TRY 87.05 and TRY 96.75, which gives a possible trading interval of +/-TRY 4.85 (+/-5.28%) up or down from last closing price. If Sönmez Pamuklu Sanayii Anonim Sirketi takes out the full calculated possible swing range there will be an estimated 10.55% 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 88.00 (4.24%) than the resistance at TRY 101.80 (10.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Sönmez Pamuklu Sanayii Anonim Sirketi stock A Buy?

Sönmez Pamuklu Sanayii Anonim Sirketi holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.811 Hold/Accumulate Unchanged

Predicted Opening Price for Sönmez Pamuklu Sanayii Anonim Sirketi of Monday, June 3, 2024

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