Mondi Tire Kutsan Kagit ve Ambalaj Stock Forecast
Green day on Monday for Mondi Tire Kutsan Kagit ve Ambalaj stock after gaining 1.99%
(Updated on May 06, 2024)
The Mondi Tire Kutsan Kagit ve Ambalaj stock price gained 1.99% on the last trading day (Monday, 6th May 2024), rising from TRY 7.02 to TRY 7.16. During the last trading day the stock fluctuated 2.70% from a day low at TRY 7.05 to a day high of TRY 7.24. The price has risen in 6 of the last 10 days and is up by 8.65% over the past 2 weeks. Volume fell on the last day by -766 thousand shares and in total, 4 million shares were bought and sold for approximately TRY 26.48 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 -31.40% during the next 3 months and, with a 90% probability hold a price between TRY 2.36 and TRY 9.18 at the end of this 3-month period.
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TIRE.IS Signals & Forecast
Mostly positive signals in the chart today. 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 7.03 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 19.73%. 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 7.04 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 0.190 between high and low, or 2.70%. For the last week, the stock has had daily average volatility of 2.91%.
Our recommended stop-loss: TRY 6.90 (-3.60%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (TIRE.IS) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Mondi Tire Kutsan Kagit ve Ambalaj Sanayi A.S. to open at TRY 7.15, and during the day (based on 14 day Average True Range), to move between TRY 6.85 and TRY 7.47, which gives a possible trading interval of +/-TRY 0.307 (+/-4.28%) 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 8.57% 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 7.19 (0.42%) than the support at TRY 7.04 (1.68%), 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 Mondi Tire Kutsan Kagit ve Ambalaj 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.
Current score: 3.320 Buy Candidate Unchanged
Predicted Opening Price for Mondi Tire Kutsan Kagit ve Ambalaj Sanayi A.S. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| TRY 7.15 ( 0.140%) | TRY 7.16 |
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 | 7.34 | 2.51 % | |
| R2 | 7.27 | 1.50 % | ||
| R1 | 7.22 | 0.87 % | ||
| Current price: | 7.16 | |||
| Support | S1 | 7.08 | -1.15 % | |
| S2 | 7.03 | -1.78 % | ||
| S3 | 6.96 | -2.79 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.58 | 5.87 % | |
| R2 | 7.45 | 4.05 % | ||
| R1 | 7.19 | 0.419 % | ||
| Current price | 7.16 | |||
| Support | S1 | 7.04 | -1.68% | |
| S2 | 7.02 | -1.96% | ||
| S3 | 6.89 | -3.77% |
FAQ
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