Sodas Sodyum Sanayii A.S. Stock Forecast
Evaluation of Sodas Sodyum Sanayii A.S. stock downgraded after the last trading session.
(Updated on May 10, 2024)
The Sodas Sodyum Sanayii A.S. stock price fell by -4.30% on the last day (Friday, 10th May 2024) from TRY 207.00 to TRY 198.10. During the last trading day the stock fluctuated 1.46% from a day low at TRY 198.10 to a day high of TRY 201.00. The price has fallen in 5 of the last 10 days but is still up by 3.99% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -15 thousand shares and in total, 37 thousand shares were bought and sold for approximately TRY 7.40 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at TRY 180.83 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 43.13% during the next 3 months and, with a 90% probability hold a price between TRY 258.82 and TRY 467.10 at the end of this 3-month period.
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SODSN.IS Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Sodas Sodyum Sanayii 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 201.44 and TRY 202.55. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -28.74%. Further fall is indicated until a new bottom pivot has been found. 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 Sodas Sodyum Sanayii A.S. stock
On the downside, the stock finds support just below today's level from accumulated volume at TRY 175.00 and TRY 169.80. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Sodas Sodyum Sanayii A.S. finds support just below today's level at TRY 175.00. If this is broken, then the next support from accumulated volume will be at TRY 169.80 and TRY 149.50.
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 2.90 between high and low, or 1.46%. For the last week, the stock has had daily average volatility of 2.68%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SODSN.IS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Sodas Sodyum Sanayii A.S. to open at TRY 199.07, and during the day (based on 14 day Average True Range), to move between TRY 185.54 and TRY 210.66, which gives a possible trading interval of +/-TRY 12.56 (+/-6.34%) up or down from last closing price. If Sodas Sodyum Sanayii A.S. takes out the full calculated possible swing range there will be an estimated 12.68% 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 201.60 (1.77%) than the support at TRY 175.00 (11.66%), 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 Sodas Sodyum Sanayii A.S. stock A Buy?
The Sodas Sodyum Sanayii A.S. stock holds several negative signals and despite the positive trend, we believe Sodas Sodyum Sanayii A.S. will perform weakly in the next couple of days or weeks. Therefore, we 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 Strong Sell candidate.
Current score: -5.341 Strong Sell Candidate Downgraded
Predicted Opening Price for Sodas Sodyum Sanayii A.S. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| TRY 199.07 ( 0.488%) | TRY 198.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SODSN.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 201.97 | 1.95 % | |
| R2 | 200.86 | 1.39 % | ||
| R1 | 200.17 | 1.05 % | ||
| Current price: | 198.10 | |||
| Support | S1 | 197.96 | -0.0712 % | |
| S2 | 197.27 | -0.417 % | ||
| S3 | 196.17 | -0.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 240.00 | 21.15 % | |
| R2 | 209.50 | 5.75 % | ||
| R1 | 201.60 | 1.77 % | ||
| Current price | 198.10 | |||
| Support | S1 | 175.00 | -11.66% | |
| S2 | 169.80 | -14.29% | ||
| S3 | 149.50 | -24.53% |
FAQ
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