Sönmez Pamuklu Sanayii Anonim Sirketi Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Sönmez Pamuklu Sanayii Anonim Sirketi stock upgraded to Buy Candidate.
(Updated on May 20, 2024)
The Sönmez Pamuklu Sanayii Anonim Sirketi stock price gained 2.33% on the last trading day (Monday, 20th May 2024), rising from TRY 107.30 to TRY 109.80. During the last trading day the stock fluctuated 5.58% from a day low at TRY 104.00 to a day high of TRY 109.80. The price has fallen in 7 of the last 10 days and is down by -7.5% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 thousand more shares were traded than the day before. In total, 51 thousand shares were bought and sold for approximately TRY 5.64 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 18.97% during the next 3 months and, with a 90% probability hold a price between TRY 109.66 and TRY 147.55 at the end of this 3-month period.
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SNPAM.IS Signals & Forecast
The Sönmez Pamuklu Sanayii Anonim Sirketi stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately TRY 109.90. On a fall, the stock will find some support from the long-term average at approximately TRY 97.59. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Wednesday, May 08, 2024, and so far it has fallen -9.48%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Sönmez Pamuklu Sanayii Anonim Sirketi stock
Sönmez Pamuklu Sanayii Anonim Sirketi finds support from accumulated volume at TRY 104.50 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 5.80 between high and low, or 5.58%. For the last week, the stock has had daily average volatility of 2.89%.
Our recommended stop-loss: TRY 104.19 (-5.11%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (SNPAM.IS) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Sönmez Pamuklu Sanayii Anonim Sirketi to open at TRY 107.87, and during the day (based on 14 day Average True Range), to move between TRY 103.79 and TRY 115.81, which gives a possible trading interval of +/-TRY 6.01 (+/-5.48%) 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 10.96% 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 110.30 (0.46%) than the support at TRY 104.50 (4.83%), 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 Sönmez Pamuklu Sanayii Anonim Sirketi stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Sönmez Pamuklu Sanayii Anonim Sirketi stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.537 Buy Candidate Upgraded
Predicted Opening Price for Sönmez Pamuklu Sanayii Anonim Sirketi of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| TRY 107.87 ( 1.76%) | TRY 109.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SNPAM.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 113.67 | 3.52 % | |
| R2 | 111.45 | 1.50 % | ||
| R1 | 110.08 | 0.257 % | ||
| Current price: | 109.80 | |||
| Support | S1 | 105.65 | -3.78 % | |
| S2 | 104.28 | -5.03 % | ||
| S3 | 102.07 | -7.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 121.30 | 10.47 % | |
| R2 | 118.70 | 8.11 % | ||
| R1 | 110.30 | 0.455 % | ||
| Current price | 109.80 | |||
| Support | S1 | 104.50 | -4.83% | |
| S2 | 101.80 | -7.29% | ||
| S3 | 88.00 | -19.85% |
FAQ
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