Torunlar Gayrimenkul Yatirim Ortakligi Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Torunlar Gayrimenkul Yatirim Ortakligi stock price ended at TRY 47.62 on Monday, after gaining 1.80%.
(Updated on May 20, 2024)
The Torunlar Gayrimenkul Yatirim Ortakligi stock price gained 1.80% on the last trading day (Monday, 20th May 2024), rising from TRY 46.78 to TRY 47.62. It has now gained 4 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 2.84% from a day low at TRY 46.46 to a day high of TRY 47.78. The price has risen in 6 of the last 10 days and is up by 4.2% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 321 thousand more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately TRY 196.78 million.
The stock lies in the middle of a wide and strong 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 27.06% during the next 3 months and, with a 90% probability hold a price between TRY 54.31 and TRY 64.85 at the end of this 3-month period.
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TRGYO.IS Signals & Forecast
The Torunlar Gayrimenkul Yatirim Ortakligi 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 46.28 and TRY 44.23. 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 26.99%. 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).
A buy signal from a double bottom formation was found on Wednesday, April 03, 2024 with a target of TRY 45.18. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Torunlar Gayrimenkul Yatirim Ortakligi stock
Torunlar Gayrimenkul Yatirim Ortakligi finds support from accumulated volume at TRY 46.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved TRY 1.32 between high and low, or 2.84%. For the last week the stock has had daily average volatility of 3.76%.
Our recommended stop-loss: TRY 45.78 (-3.86%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 46 days ago.)
Trading Expectations (TRGYO.IS) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Torunlar Gayrimenkul Yatirim Ortakligi A.S. to open at TRY 47.29, and during the day (based on 14 day Average True Range), to move between TRY 45.88 and TRY 49.36, which gives a possible trading interval of +/-TRY 1.74 (+/-3.66%) up or down from last closing price. If Torunlar Gayrimenkul Yatirim Ortakligi A.S. takes out the full calculated possible swing range there will be an estimated 7.32% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ TRY 46.00, some TRY 1.62 (3.40%) from the current price of TRY 47.62, our system finds the risk reward attractive.
Is Torunlar Gayrimenkul Yatirim Ortakligi 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 Torunlar Gayrimenkul Yatirim Ortakligi stock to perform well in the short-term.
Current score: 4.577 Buy Candidate Unchanged
Predicted Opening Price for Torunlar Gayrimenkul Yatirim Ortakligi A.S. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| TRY 47.29 ( 0.700%) | TRY 47.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TRGYO.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 48.61 | 2.07 % | |
| R2 | 48.10 | 1.01 % | ||
| R1 | 47.79 | 0.359 % | ||
| Current price: | 47.62 | |||
| Support | S1 | 46.78 | -1.76 % | |
| S2 | 46.47 | -2.41 % | ||
| S3 | 45.97 | -3.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 47.62 | |||
| Support | S1 | 46.00 | -3.40% | |
| S2 | 37.62 | -21.00% | ||
| S3 | 37.50 | -21.25% |
FAQ
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