Mondi Tire Kutsan Kagit ve Ambalaj Stock Forecast
Weaker technical forecast for Mondi Tire Kutsan Kagit ve Ambalaj as stock downgraded to Hold/Accumulate.
(Updated on Apr 25, 2024)
The Mondi Tire Kutsan Kagit ve Ambalaj stock price gained 0.576% on the last trading day (Thursday, 25th Apr 2024), rising from TRY 6.95 to TRY 6.99. During the last trading day the stock fluctuated 1.15% from a day low at TRY 6.97 to a day high of TRY 7.05. The price has risen in 6 of the last 10 days and is up by 8.88% over the past 2 weeks. Volume fell on the last day by -541 thousand shares and in total, 3 million shares were bought and sold for approximately TRY 24.46 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very 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 -49.57% during the next 3 months and, with a 90% probability hold a price between TRY 1.42 and TRY 5.41 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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TIRE.IS Signals & Forecast
The Mondi Tire Kutsan Kagit ve Ambalaj 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 6.72 and TRY 6.66. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 26, 2024, and so far it has risen 16.89%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Mondi Tire Kutsan Kagit ve Ambalaj stock
Mondi Tire Kutsan Kagit ve Ambalaj finds support from accumulated volume at TRY 6.96 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 0.0800 between high and low, or 1.15%. For the last week, the stock has had daily average volatility of 3.24%.
Our recommended stop-loss: TRY 6.69 (-4.28%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (TIRE.IS) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Mondi Tire Kutsan Kagit ve Ambalaj Sanayi A.S. to open at TRY 7.00, and during the day (based on 14 day Average True Range), to move between TRY 6.66 and TRY 7.32, which gives a possible trading interval of +/-TRY 0.325 (+/-4.65%) up or down from last closing price. If Mondi Tire Kutsan Kagit ve Ambalaj Sanayi A.S. takes out the full calculated possible swing range there will be an estimated 9.30% 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 6.96 (0.43%) than the resistance at TRY 7.04 (0.72%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Mondi Tire Kutsan Kagit ve Ambalaj Sanayi A.S. stock A Buy?
Mondi Tire Kutsan Kagit ve Ambalaj 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Mondi Tire Kutsan Kagit ve Ambalaj Sanayi A.S. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| TRY 7.00 ( 0.191%) | TRY 6.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TIRE.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.08 | 1.34 % | |
| R2 | 7.05 | 0.90 % | ||
| R1 | 7.03 | 0.628 % | ||
| Current price: | 6.99 | |||
| Support | S1 | 6.97 | -0.246 % | |
| S2 | 6.95 | -0.517 % | ||
| S3 | 6.92 | -0.95 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.58 | 8.44 % | |
| R2 | 7.09 | 1.43 % | ||
| R1 | 7.04 | 0.715 % | ||
| Current price | 6.99 | |||
| Support | S1 | 6.96 | -0.429% | |
| S2 | 6.95 | -0.572% | ||
| S3 | 6.89 | -1.43% |
FAQ
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