Sun Tekstil Sanayi ve Ticaret A.S. Stock Forecast
Sun Tekstil Sanayi ve Ticaret A.S. stock price down 0.86% on Thursday
(Updated on May 09, 2024)
The Sun Tekstil Sanayi ve Ticaret A.S. stock price fell by -0.86% on the last day (Thursday, 9th May 2024) from TRY 16.31 to TRY 16.17. During the last trading day the stock fluctuated 3.06% from a day low at TRY 16.00 to a day high of TRY 16.49. The price has fallen in 6 of the last 10 days and is down by -7.76% for this period. 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 -27 thousand shares and in total, 617 thousand shares were bought and sold for approximately TRY 9.97 million.
The stock lies in the middle of a 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 -15.42% during the next 3 months and, with a 90% probability hold a price between TRY 12.56 and TRY 15.13 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SUNTK.IS Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 04, 2024, and so far it has risen 1.19%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Sun Tekstil Sanayi ve Ticaret 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 16.86 and TRY 16.98. A break-up above any of these levels will issue buy signals. 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 Sun Tekstil Sanayi ve Ticaret A.S. stock
Sun Tekstil Sanayi ve Ticaret A.S. finds support from accumulated volume at TRY 16.15 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 0.490 between high and low, or 3.06%. For the last week, the stock has had daily average volatility of 4.50%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SUNTK.IS) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Sun Tekstil Sanayi ve Ticaret A.S. to open at TRY 16.22, and during the day (based on 14 day Average True Range), to move between TRY 15.30 and TRY 17.04, which gives a possible trading interval of +/-TRY 0.87 (+/-5.39%) up or down from last closing price. If Sun Tekstil Sanayi ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 10.77% 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 16.15 (0.12%) than the resistance at TRY 17.60 (8.84%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sun Tekstil Sanayi ve Ticaret A.S. stock A Buy?
Sun Tekstil Sanayi ve Ticaret A.S. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.276 Sell Candidate Unchanged
Predicted Opening Price for Sun Tekstil Sanayi ve Ticaret A.S. of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| TRY 16.22 ( 0.309%) | TRY 16.17 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SUNTK.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.71 | 3.34 % | |
| R2 | 16.52 | 2.18 % | ||
| R1 | 16.41 | 1.47 % | ||
| Current price: | 16.17 | |||
| Support | S1 | 16.03 | -0.85 % | |
| S2 | 15.92 | -1.56 % | ||
| S3 | 15.73 | -2.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.30 | 19.36 % | |
| R2 | 18.72 | 15.77 % | ||
| R1 | 17.60 | 8.84 % | ||
| Current price | 16.17 | |||
| Support | S1 | 16.15 | -0.124% | |
| S2 | 15.98 | -1.18% | ||
| S3 | 0 | . |
FAQ
Click here for our free guide on how to buy Sun Tekstil Sanayi ve Ticaret A.S. Stock.
