Türk Telekomünikasyon Anonim Sirketi Stock Forecast

Is Türk Telekomünikasyon Anonim Sirketi stock still a buy after falling -11.53% on Friday?
(Updated on Jun 28, 2024)

TRKNY Signals & Forecast

There are few to no technical positive signals at the moment. The Türk Telekomünikasyon Anonim Sirketi stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $2.92 and $2.78. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 20, 2024, and so far it has fallen -15.81%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Türk Telekomünikasyon Anonim Sirketi gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Türk Telekomünikasyon Anonim Sirketi stock

On the downside, the stock finds support just below today's level from accumulated volume at $2.40 and $2.36. 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, Türk Telekomünikasyon Anonim Sirketi finds support just below today's level at $2.40. If this is broken, then the next support from accumulated volume will be at $2.36 and $2.31.

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 $0 between high and low, or 0%. For the last week, the stock has had daily average volatility of 0%.

Our recommended stop-loss: $2.46 (-5.58%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 7 days ago.)

Trading Expectations (TRKNY) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Türk Telekomünikasyon Anonim Sirketi to open at $2.61, and during the day (based on 14 day Average True Range), to move between $2.52 and $2.70, which gives a possible trading interval of +/-$0.0872 (+/-3.34%) up or down from last closing price. If Türk Telekomünikasyon Anonim Sirketi takes out the full calculated possible swing range there will be an estimated 6.69% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $2.69 (3.07%) than the support at $2.40 (8.05%), 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 Türk Telekomünikasyon Anonim Sirketi stock A Buy?

Türk Telekomünikasyon Anonim Sirketi holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Türk Telekomünikasyon Anonim Sirketi of Monday, July 1, 2024

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