Tekfen Holding Anonim Sirketi Stock Forecast
Tekfen Holding Anonim Sirketi stock upgraded to Strong Buy Candidate.
(Updated on May 17, 2024)
The Tekfen Holding Anonim Sirketi stock price gained 3.22% on the last trading day (Friday, 17th May 2024), rising from TRY 54.40 to TRY 56.15. During the last trading day the stock fluctuated 4.54% from a day low at TRY 53.95 to a day high of TRY 56.40. The price has been going up and down for this period, and there has been a 6.45% 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, 3 million more shares were traded than the day before. In total, 6 million shares were bought and sold for approximately TRY 331.04 million.
Given the current short-term trend, the stock is expected to rise 15.51% during the next 3 months and, with a 90% probability hold a price between TRY 48.20 and TRY 64.86 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
TKFEN.IS Signals & Forecast
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 53.75 and TRY 46.33. 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 46.68%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
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 46.10 and TRY 44.94. 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 46.10. If this is broken, then the next support from accumulated volume will be at TRY 44.94 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 2.45 between high and low, or 4.54%. For the last week, the stock has had daily average volatility of 4.30%.
The Tekfen Holding Anonim Sirketi stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but 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.
Our recommended stop-loss: TRY 54.23 (-3.42%) (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 27 days ago.)
Trading Expectations (TKFEN.IS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Tekfen Holding Anonim Sirketi to open at TRY 55.50, and during the day (based on 14 day Average True Range), to move between TRY 54.03 and TRY 58.27, which gives a possible trading interval of +/-TRY 2.12 (+/-3.78%) 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 7.56% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ TRY 46.10, some TRY 10.05 (17.90%) from the current price of TRY 56.15, our system finds the risk reward attractive.
Earnings coming up
Tekfen Holding Anonim Sirketi will release earnings BMO on Thursday, May 23, 2024. We will update the financials statements for Tekfen Holding Anonim Sirketi, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.07% in the first trading day after earnings release.
Is Tekfen Holding Anonim Sirketi stock A Buy?
Tekfen Holding Anonim Sirketi holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 7.625 Strong Buy Candidate Upgraded
Predicted Opening Price for Tekfen Holding Anonim Sirketi of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| TRY 55.50 ( 1.16%) | TRY 56.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TKFEN.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 57.95 | 3.21 % | |
| R2 | 57.01 | 1.54 % | ||
| R1 | 56.44 | 0.509 % | ||
| Current price: | 56.15 | |||
| Support | S1 | 54.56 | -2.82 % | |
| S2 | 53.99 | -3.85 % | ||
| S3 | 53.05 | -5.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 56.15 | |||
| Support | S1 | 46.10 | -17.90% | |
| S2 | 44.94 | -19.96% | ||
| S3 | 44.86 | -20.11% |
TKFEN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 10, 2023 | May 10, 2023 | May 10, 2023 | TRY 1.41 | 5.45% |
| 2 | Apr 12, 2023 | Apr 12, 2023 | Apr 12, 2023 | TRY 1.41 | 4.00% |
| 3 | Apr 26, 2022 | Apr 26, 2022 | Apr 26, 2022 | TRY 0.694 | 3.26% |
| 4 | Jan 05, 2021 | Jan 05, 2021 | Jan 05, 2021 | TRY 0.192 | 1.05% |
| 5 | Oct 01, 2020 | Oct 01, 2020 | Oct 01, 2020 | TRY 0.192 | 1.29% |
FAQ
Click here for our free guide on how to buy Tekfen Holding Anonim Sirketi Stock.
