Tat Gida Sanayi A.S. Stock Forecast
Tat Gida Sanayi A.S. stock price ended at TRY 28.00 on Thursday, after gaining 2.41%.
(Updated on Apr 25, 2024)
The Tat Gida Sanayi A.S. stock price gained 2.41% on the last trading day (Thursday, 25th Apr 2024), rising from TRY 27.34 to TRY 28.00. During the last trading day the stock fluctuated 3.75% from a day low at TRY 27.20 to a day high of TRY 28.22. The price has been going up and down for this period, and there has been a 10.67% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 106 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately TRY 58.60 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at TRY 29.33 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -30.07% during the next 3 months and, with a 90% probability hold a price between TRY 15.34 and TRY 20.51 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.
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TATGD.IS Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 03, 2024, and so far it has risen 14.47%. Further rise is indicated until a new top pivot has been found. 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. The Tat Gida Sanayi A.S. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at TRY 28.11. On a fall, the stock will find some support from the short-term average at TRY 26.78. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Tat Gida Sanayi A.S. stock
Tat Gida Sanayi A.S. finds support from accumulated volume at TRY 27.90 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 1.02 between high and low, or 3.75%. For the last week, the stock has had daily average volatility of 5.35%.
Our recommended stop-loss: TRY 26.99 (-3.62%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (TATGD.IS) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Tat Gida Sanayi A.S. to open at TRY 27.81, and during the day (based on 14 day Average True Range), to move between TRY 26.71 and TRY 29.29, which gives a possible trading interval of +/-TRY 1.29 (+/-4.61%) up or down from last closing price. If Tat Gida Sanayi A.S. takes out the full calculated possible swing range there will be an estimated 9.21% 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 27.90 (0.36%) than the resistance at TRY 30.90 (10.36%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Tat Gida Sanayi A.S. stock A Buy?
Tat Gida Sanayi A.S. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.680 Hold/Accumulate Unchanged
Predicted Opening Price for Tat Gida Sanayi A.S. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| TRY 27.81 ( 0.690%) | TRY 28.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TATGD.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.83 | 2.95 % | |
| R2 | 28.44 | 1.56 % | ||
| R1 | 28.20 | 0.701 % | ||
| Current price: | 28.00 | |||
| Support | S1 | 27.42 | -2.08 % | |
| S2 | 27.18 | -2.94 % | ||
| S3 | 26.79 | -4.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.00 | 21.43 % | |
| R2 | 32.86 | 17.36 % | ||
| R1 | 30.90 | 10.36 % | ||
| Current price | 28.00 | |||
| Support | S1 | 27.90 | -0.357% | |
| S2 | 26.30 | -6.07% | ||
| S3 | 25.16 | -10.14% |
FAQ
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