Tekfen Holding Anonim Sirketi Stock Forecast

Tekfen Holding Anonim Sirketi stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on May 02, 2024)

TKFEN.IS Signals & Forecast

Mostly positive signals in the chart today. The Tekfen Holding Anonim Sirketi 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 48.88 and TRY 43.26. 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 37.28%. 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 Tekfen Holding Anonim Sirketi stock

On the downside, the stock finds support just below today's level from accumulated volume at TRY 46.74 and TRY 46.10. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Tekfen Holding Anonim Sirketi finds support just below today's level at TRY 46.74. If this is broken, then the next support from accumulated volume will be at TRY 46.10 and TRY 44.86.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved TRY 1.75 between high and low, or 3.42%. For the last week, the stock has had daily average volatility of 4.93%.

The Tekfen Holding Anonim Sirketi stock is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the stock is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs. Since the Tekfen Holding Anonim Sirketi has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: TRY 51.02 (-2.92%) (This stock has high daily movements and this gives high risk. The RSI14 is 79 and this increases the risk substantially. There is a buy signal from a pivot bottom found 16 days ago.)

Trading Expectations (TKFEN.IS) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Tekfen Holding Anonim Sirketi to open at TRY 52.23, and during the day (based on 14 day Average True Range), to move between TRY 50.44 and TRY 54.66, which gives a possible trading interval of +/-TRY 2.11 (+/-4.02%) up or down from last closing price. If Tekfen Holding Anonim Sirketi takes out the full calculated possible swing range there will be an estimated 8.04% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ TRY 46.74, some TRY 5.81 (11.06%) from the current price of TRY 52.55, our system finds the risk reward attractive.

Is Tekfen Holding Anonim Sirketi 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: 2.830 Buy Candidate Upgraded

Predicted Opening Price for Tekfen Holding Anonim Sirketi of Friday, May 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.