Tofas Türk Otomobil Fabrikasi A.S. Stock Forecast
Tofas Türk Otomobil Fabrikasi A.S. stock price ended at TRY 270.25 on Thursday, after gaining 0.185%.
(Updated on Apr 25, 2024)
The Tofas Türk Otomobil Fabrikasi A.S. stock price gained 0.185% on the last trading day (Thursday, 25th Apr 2024), rising from TRY 269.75 to TRY 270.25. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.49% from a day low at TRY 268.00 to a day high of TRY 272.00. The price has risen in 6 of the last 10 days and is up by 0.65% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 5 million shares were bought and sold for approximately TRY 1.41 billion. 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 wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 7.09% during the next 3 months and, with a 90% probability hold a price between TRY 274.44 and TRY 311.62 at the end of this 3-month period.
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TOASO.IS Signals & Forecast
The Tofas Türk Otomobil Fabrikasi A.S. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at TRY 264.46 and TRY 269.24. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 04, 2024, and so far it has risen 6.92%. Further rise is indicated until a new top pivot has been found. 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. 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 Tofas Türk Otomobil Fabrikasi A.S. stock
Tofas Türk Otomobil Fabrikasi A.S. finds support from accumulated volume at TRY 266.00 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 4.00 between high and low, or 1.49%. For the last week, the stock has had daily average volatility of 2.00%.
Our recommended stop-loss: TRY 258.16 (-4.47%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (TOASO.IS) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Tofas Türk Otomobil Fabrikasi A.S. to open at TRY 270.08, and during the day (based on 14 day Average True Range), to move between TRY 261.62 and TRY 278.88, which gives a possible trading interval of +/-TRY 8.63 (+/-3.19%) up or down from last closing price. If Tofas Türk Otomobil Fabrikasi A.S. takes out the full calculated possible swing range there will be an estimated 6.39% 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 270.75 (0.19%) than the support at TRY 266.00 (1.57%), 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 Tofas Türk Otomobil Fabrikasi A.S. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Tofas Türk Otomobil Fabrikasi A.S. stock to perform well in the short-term.
Current score: 2.269 Buy Candidate Unchanged
Predicted Opening Price for Tofas Türk Otomobil Fabrikasi A.S. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| TRY 270.08 ( 0.0617%) | TRY 270.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TOASO.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 274.08 | 1.42 % | |
| R2 | 272.56 | 0.85 % | ||
| R1 | 271.61 | 0.504 % | ||
| Current price: | 270.25 | |||
| Support | S1 | 268.56 | -0.627 % | |
| S2 | 267.61 | -0.98 % | ||
| S3 | 266.08 | -1.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 277.00 | 2.50 % | |
| R2 | 274.00 | 1.39 % | ||
| R1 | 270.75 | 0.185 % | ||
| Current price | 270.25 | |||
| Support | S1 | 266.00 | -1.57% | |
| S2 | 262.50 | -2.87% | ||
| S3 | 247.70 | -8.34% |
TOASO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 04, 2024 | Apr 04, 2024 | Apr 08, 2024 | TRY 20.00 | 7.41% |
| 2 | Mar 21, 2023 | Mar 21, 2023 | Mar 21, 2023 | TRY 6.00 | 3.36% |
| 3 | Mar 22, 2022 | Mar 22, 2022 | Mar 22, 2022 | TRY 6.40 | 8.41% |
| 4 | Mar 23, 2021 | Mar 23, 2021 | Mar 23, 2021 | TRY 3.00 | 9.28% |
| 5 | Mar 25, 2020 | Mar 25, 2020 | Mar 25, 2020 | TRY 2.40 | 14.81% |
FAQ
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