Tat Gida Sanayi A.S. Stock Forecast
Stronger technical forecast for Tat Gida Sanayi A.S. stock price after Friday trading.
(Updated on May 03, 2024)
The Tat Gida Sanayi A.S. stock price gained 1.02% on the last trading day (Friday, 3rd May 2024), rising from TRY 27.42 to TRY 27.70. During the last trading day the stock fluctuated 2.88% from a day low at TRY 27.10 to a day high of TRY 27.88. The price has been going up and down for this period, and there has been a 10.18% 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, 51 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately TRY 61.78 million.
Given the current short-term trend, the stock is expected to fall -33.35% during the next 3 months and, with a 90% probability hold a price between TRY 13.64 and TRY 18.46 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
Mostly positive signals in the chart today. The Tat Gida Sanayi A.S. 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 27.39 and TRY 27.12. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 03, 2024, and so far it has risen 13.25%. 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.
Support, Risk & Stop-loss for Tat Gida Sanayi A.S. stock
Tat Gida Sanayi A.S. finds support from accumulated volume at TRY 27.24 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 0.780 between high and low, or 2.88%. For the last week, the stock has had daily average volatility of 2.93%.
Our recommended stop-loss: TRY 26.31 (-5.03%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (TATGD.IS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Tat Gida Sanayi A.S. to open at TRY 27.56, and during the day (based on 14 day Average True Range), to move between TRY 26.56 and TRY 28.84, which gives a possible trading interval of +/-TRY 1.14 (+/-4.13%) 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 8.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at TRY 27.90 (0.72%) than the support at TRY 27.24 (1.66%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Tat Gida Sanayi A.S. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.865 Buy Candidate Upgraded
Predicted Opening Price for Tat Gida Sanayi A.S. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| TRY 27.56 ( 0.505%) | TRY 27.70 |
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 | 28.34 | 2.31 % | |
| R2 | 28.04 | 1.23 % | ||
| R1 | 27.86 | 0.570 % | ||
| Current price: | 27.70 | |||
| Support | S1 | 27.26 | -1.58 % | |
| S2 | 27.08 | -2.25 % | ||
| S3 | 26.78 | -3.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.00 | 22.74 % | |
| R2 | 30.90 | 11.55 % | ||
| R1 | 27.90 | 0.722 % | ||
| Current price | 27.70 | |||
| Support | S1 | 27.24 | -1.66% | |
| S2 | 26.30 | -5.05% | ||
| S3 | 25.16 | -9.17% |
FAQ
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