Sun Tekstil Sanayi ve Ticaret A.S. 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 Sun Tekstil Sanayi ve Ticaret A.S. stock price on Friday moving 16.65% between high and low
(Updated on May 31, 2024)
The Sun Tekstil Sanayi ve Ticaret A.S. stock price fell by -4.79% on the last day (Friday, 31st May 2024) from TRY 19.64 to TRY 18.70. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 16.65% from a day low at TRY 18.26 to a day high of TRY 21.30. The price has fallen in 6 of the last 10 days but is still up by 10.45% over the past 2 weeks. Volume has increased on the last day by 608 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately TRY 24.59 million.
The stock lies in the middle of a very wide and weak 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 4.51% during the next 3 months and, with a 90% probability hold a price between TRY 16.99 and TRY 21.97 at the end of this 3-month period.
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SUNTK.IS Signals & Forecast
The Sun Tekstil Sanayi ve Ticaret A.S. 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 19.79. On a fall, the stock will find some support from the long-term average at approximately TRY 17.68. 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). 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 Monday, May 27, 2024, and so far it has fallen -10.78%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A buy signal from a double bottom formation was found on Tuesday, May 07, 2024 with a target of TRY 17.36. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
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 18.62 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 3.04 between high and low, or 16.65%. For the last week, the stock has had daily average volatility of 9.59%.
Our recommended stop-loss: TRY 18.11 (-3.13%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (SUNTK.IS) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Sun Tekstil Sanayi ve Ticaret A.S. to open at TRY 19.42, and during the day (based on 14 day Average True Range), to move between TRY 17.38 and TRY 20.02, which gives a possible trading interval of +/-TRY 1.32 (+/-7.05%) 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 14.10% 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 18.62 (0.43%) than the resistance at TRY 19.15 (2.41%), 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?
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 Sun Tekstil Sanayi ve Ticaret A.S. stock to perform well in the short-term.
Current score: 1.154 Buy Candidate Unchanged
Predicted Opening Price for Sun Tekstil Sanayi ve Ticaret A.S. of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| TRY 19.42 ( 3.85%) | TRY 18.70 |
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 | 22.46 | 20.11 % | |
| R2 | 21.30 | 13.90 % | ||
| R1 | 20.58 | 10.06 % | ||
| Current price: | 18.70 | |||
| Support | S1 | 18.26 | -2.36 % | |
| S2 | 17.54 | -6.20 % | ||
| S3 | 16.38 | -12.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.96 | 12.09 % | |
| R2 | 20.84 | 11.44 % | ||
| R1 | 19.15 | 2.41 % | ||
| Current price | 18.70 | |||
| Support | S1 | 18.62 | -0.428% | |
| S2 | 17.60 | -5.88% | ||
| S3 | 16.47 | -11.93% |
FAQ
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