Tetamat Gida Yatirimlari A.S. Stock Forecast
Tetamat Gida Yatirimlari A.S. stock price fell more than -5.06% Friday closing at TRY 12,200.00
(Updated on Apr 26, 2024)
The Tetamat Gida Yatirimlari A.S. stock price fell by -5.06% on the last day (Friday, 26th Apr 2024) from TRY 12,850.00 to TRY 12,200.00. During the last trading day the stock fluctuated 5.13% from a day low at TRY 12,080.00 to a day high of TRY 12,700.00. The price has fallen in 6 of the last 10 days and is down by -0.35% 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 -720 shares and in total, 2 thousand shares were bought and sold for approximately TRY 25.01 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at TRY 11,896.51 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 55.70% during the next 3 months and, with a 90% probability hold a price between TRY 18,523.14 and TRY 30,433.39 at the end of this 3-month period.
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TETMT.IS Signals & Forecast
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 Tetamat Gida Yatirimlari 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 12,501.79 and TRY 13,091.93. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 06, 2024, and so far it has fallen -22.29%. Further fall is indicated until a new bottom pivot has been found. 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 Tetamat Gida Yatirimlari A.S. stock
Tetamat Gida Yatirimlari A.S. finds support from accumulated volume at TRY 12,000.00 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 620.00 between high and low, or 5.13%. For the last week, the stock has had daily average volatility of 6.24%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TETMT.IS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Tetamat Gida Yatirimlari A.S. to open at TRY 12,326.67, and during the day (based on 14 day Average True Range), to move between TRY 11,204.54 and TRY 13,195.46, which gives a possible trading interval of +/-TRY 995.46 (+/-8.16%) up or down from last closing price. If Tetamat Gida Yatirimlari A.S. takes out the full calculated possible swing range there will be an estimated 16.32% 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 12,000.00 (1.64%) than the resistance at TRY 13,147.50 (7.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Tetamat Gida Yatirimlari A.S. stock A Buy?
The Tetamat Gida Yatirimlari A.S. stock holds several negative signals and despite the positive trend, we believe Tetamat Gida Yatirimlari A.S. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -4.020 Sell Candidate Downgraded
Predicted Opening Price for Tetamat Gida Yatirimlari A.S. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| TRY 12,326.67 ( 1.04%) | TRY 12,200.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TETMT.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12,946.67 | 6.12 % | |
| R2 | 12,709.83 | 4.18 % | ||
| R1 | 12,563.51 | 2.98 % | ||
| Current price: | 12,200.00 | |||
| Support | S1 | 12,089.83 | -0.90 % | |
| S2 | 11,943.51 | -2.10 % | ||
| S3 | 11,706.67 | -4.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15,000.00 | 22.95 % | |
| R2 | 14,460.00 | 18.52 % | ||
| R1 | 13,147.50 | 7.77 % | ||
| Current price | 12,200.00 | |||
| Support | S1 | 12,000.00 | -1.64% | |
| S2 | 11,952.50 | -2.03% | ||
| S3 | 10,700.00 | -12.30% |
FAQ
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