Sönmez Filament Sentetik Iplik ve Elyaf 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
Big movements in Sönmez Filament Sentetik Iplik ve Elyaf stock price on Monday moving 11.17% between high and low
(Updated on May 20, 2024)
The Sönmez Filament Sentetik Iplik ve Elyaf stock price gained 8.31% on the last trading day (Monday, 20th May 2024), rising from TRY 103.50 to TRY 112.10. During the last trading day the stock fluctuated 11.17% from a day low at TRY 102.10 to a day high of TRY 113.50. The price has risen in 5 of the last 10 days and is up by 4.86% 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, 79 thousand more shares were traded than the day before. In total, 128 thousand shares were bought and sold for approximately TRY 14.32 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 29.40% during the next 3 months and, with a 90% probability hold a price between TRY 111.27 and TRY 160.31 at the end of this 3-month period.
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SONME.IS Signals & Forecast
The Sönmez Filament Sentetik Iplik ve Elyaf stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at TRY 106.00 and TRY 93.69. A breakdown below any of these levels will issue sell signals. 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 -6.58%. 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).
Support, Risk & Stop-loss for Sönmez Filament Sentetik Iplik ve Elyaf stock
Sönmez Filament Sentetik Iplik ve Elyaf finds support from accumulated volume at TRY 111.70 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 11.40 between high and low, or 11.17%. For the last week, the stock has had daily average volatility of 6.20%.
Our recommended stop-loss: TRY 106.59 (-4.91%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 28 days ago.)
Trading Expectations (SONME.IS) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Sönmez Filament Sentetik Iplik ve Elyaf Sanayi A.S. to open at TRY 109.23, and during the day (based on 14 day Average True Range), to move between TRY 104.08 and TRY 120.12, which gives a possible trading interval of +/-TRY 8.02 (+/-7.16%) up or down from last closing price. If Sönmez Filament Sentetik Iplik ve Elyaf Sanayi A.S. takes out the full calculated possible swing range there will be an estimated 14.31% 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 111.70 (0.36%) than the resistance at TRY 112.50 (0.36%), 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 Filament Sentetik Iplik ve Elyaf Sanayi A.S. 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 Filament Sentetik Iplik ve Elyaf stock to perform well in the short-term.
Current score: 3.166 Buy Candidate Unchanged
Predicted Opening Price for Sönmez Filament Sentetik Iplik ve Elyaf Sanayi A.S. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| TRY 109.23 ( 2.56%) | TRY 112.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SONME.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 120.63 | 7.61 % | |
| R2 | 116.28 | 3.73 % | ||
| R1 | 113.59 | 1.33 % | ||
| Current price: | 112.10 | |||
| Support | S1 | 104.88 | -6.44 % | |
| S2 | 102.19 | -8.84 % | ||
| S3 | 97.83 | -12.73 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 120.00 | 7.05 % | ||
| R1 | 112.50 | 0.357 % | ||
| Current price | 112.10 | |||
| Support | S1 | 111.70 | -0.357% | |
| S2 | 103.50 | -7.67% | ||
| S3 | 90.45 | -19.31% |
FAQ
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