Turcas Petrol A.S. Stock Forecast
Green day on Friday for Turcas Petrol A.S.
(Updated on May 10, 2024)
The Turcas Petrol A.S. stock price gained 0.483% on the last trading day (Friday, 10th May 2024), rising from TRY 24.84 to TRY 24.96. During the last trading day the stock fluctuated 2.35% from a day low at TRY 24.64 to a day high of TRY 25.22. The price has fallen in 6 of the last 10 days and is down by -5.74% for this period. Volume fell on the last day by -5 million shares and in total, 1 million shares were bought and sold for approximately TRY 34.27 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 is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at TRY 24.83 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Turcas Petrol A.S. stock with a 90% probability to be traded between TRY 24.56 and TRY 31.61 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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TRCAS.IS Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 0.483%. 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. The Turcas Petrol A.S. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at TRY 25.77 and TRY 26.35. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Turcas Petrol A.S. stock
Turcas Petrol A.S. finds support from accumulated volume at TRY 24.84 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 0.580 between high and low, or 2.35%. For the last week, the stock has had daily average volatility of 3.70%.
Turcas Petrol A.S. is oversold on RSI14 (13). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TRCAS.IS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Turcas Petrol A.S. to open at TRY 24.94, and during the day (based on 14 day Average True Range), to move between TRY 23.67 and TRY 26.25, which gives a possible trading interval of +/-TRY 1.29 (+/-5.16%) up or down from last closing price. If Turcas Petrol A.S. takes out the full calculated possible swing range there will be an estimated 10.31% 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 24.84 (0.48%) than the resistance at TRY 26.00 (4.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Turcas Petrol A.S. stock A Buy?
Turcas Petrol A.S. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.548 Sell Candidate Unchanged
Predicted Opening Price for Turcas Petrol A.S. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| TRY 24.94 ( 0.0801%) | TRY 24.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TRCAS.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.52 | 2.24 % | |
| R2 | 25.30 | 1.36 % | ||
| R1 | 25.16 | 0.81 % | ||
| Current price: | 24.96 | |||
| Support | S1 | 24.72 | -0.97 % | |
| S2 | 24.58 | -1.52 % | ||
| S3 | 24.36 | -2.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.12 | 24.68 % | |
| R2 | 26.40 | 5.77 % | ||
| R1 | 26.00 | 4.17 % | ||
| Current price | 24.96 | |||
| Support | S1 | 24.84 | -0.481% | |
| S2 | 24.74 | -0.88% | ||
| S3 | 24.36 | -2.40% |
FAQ
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