Tat Gida Sanayi A.S. Stock Forecast
Tat Gida Sanayi A.S. stock upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jul 02, 2024)
The Tat Gida Sanayi A.S. stock price fell by -0.157% on the last day (Tuesday, 2nd Jul 2024) from TRY 25.48 to TRY 25.44. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.00% from a day low at TRY 25.00 to a day high of TRY 25.50. The price has fallen in 6 of the last 10 days but is still up by 5.21% 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 -966 thousand shares and in total, 691 thousand shares were bought and sold for approximately TRY 17.57 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 -6.61% during the next 3 months and, with a 90% probability hold a price between TRY 22.05 and TRY 24.77 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, June 12, 2024, and so far it has risen 6.09%. 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). 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 25.55. On a fall, the stock will find some support from the short-term average at TRY 25.25. 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. 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 Tat Gida Sanayi A.S. stock
Tat Gida Sanayi A.S. finds support from accumulated volume at TRY 25.30 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved TRY 0.500 (2.00%) between high and low. For the last week, the stock has had daily average volatility of 3.60%.
Our recommended stop-loss: TRY 24.47 (-3.80%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 44 days ago.)
Trading Expectations (TATGD.IS) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Tat Gida Sanayi A.S. to open at TRY 25.31, and during the day (based on 14 day Average True Range), to move between TRY 24.49 and TRY 26.39, which gives a possible trading interval of +/-TRY 0.95 (+/-3.73%) 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 7.47% 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 25.30 (0.55%) than the resistance at TRY 26.30 (3.38%), 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.436 Hold/Accumulate Upgraded
Predicted Opening Price for Tat Gida Sanayi A.S. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| TRY 25.31 ( 0.498%) | TRY 25.44 |
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 | |
|---|---|---|
| R3 | 25.81 | 1.47% |
| R2 | 25.62 | 0.717% |
| R1 | 25.50 | 0.253% |
| Price | 25.44 | |
| S1 | 25.12 | -1.25% |
| S2 | 25.00 | -1.71% |
| S3 | 24.81 | -2.46% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 27.90 | 9.67% |
| R2 | 27.34 | 7.47% |
| R1 | 26.30 | 3.38% |
| Price | 25.44 | |
| S1 | 25.30 | -0.550% |
| S2 | 25.16 | -1.10% |
| S3 | 24.80 | -2.52% |
FAQ
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