Türk Traktör ve Ziraat Makineleri A.S. Stock Forecast
Türk Traktör ve Ziraat Makineleri A.S. stock downgraded to Buy Candidate
(Updated on May 14, 2024)
The Türk Traktör ve Ziraat Makineleri A.S. stock price gained 1.39% on the last trading day (Tuesday, 14th May 2024), rising from TRY 971.00 to TRY 984.50. During the last trading day the stock fluctuated 4.33% from a day low at TRY 947.00 to a day high of TRY 988.00. The price has risen in 8 of the last 10 days and is up by 9.33% 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, 6 thousand more shares were traded than the day before. In total, 393 thousand shares were bought and sold for approximately TRY 386.86 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 11.68% during the next 3 months and, with a 90% probability hold a price between TRY 1,025.21 and TRY 1,159.92 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.
TTRAK.IS Signals & Forecast
The Türk Traktör ve Ziraat Makineleri A.S. 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 978.43 and TRY 930.73. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Wednesday, May 08, 2024, and so far it has fallen -0.455%. Further fall is indicated until a new bottom pivot has been found.
A sell signal from a double top formation was found on Wednesday, May 08, 2024 and based on theory for this formation the price should fall by -5.79% to TRY 927.48 within 23 trading days since signal was issued (Wednesday, May 15, 2024).
Support, Risk & Stop-loss for Türk Traktör ve Ziraat Makineleri A.S. stock
On the downside, the stock finds support just below today's level from accumulated volume at TRY 910.00 and TRY 908.50. 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 Traktör ve Ziraat Makineleri A.S. finds support just below today's level at TRY 910.00. If this is broken, then the next support from accumulated volume will be at TRY 908.50 and TRY 859.00.
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 41.00 between high and low, or 4.33%. For the last week, the stock has had daily average volatility of 3.07%.
Our recommended stop-loss: TRY 949.00 (-3.61%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (TTRAK.IS) For The Upcoming Trading Day Of Wednesday 15th
For the upcoming trading day on Wednesday, 15th we expect Türk Traktör ve Ziraat Makineleri A.S. to open at TRY 973.17, and during the day (based on 14 day Average True Range), to move between TRY 953.87 and TRY 1,015.13, which gives a possible trading interval of +/-TRY 30.63 (+/-3.11%) up or down from last closing price. If Türk Traktör ve Ziraat Makineleri A.S. takes out the full calculated possible swing range there will be an estimated 6.22% 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 988.00 (0.36%) than the support at TRY 910.00 (7.57%), 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 Türk Traktör ve Ziraat Makineleri 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 Türk Traktör ve Ziraat Makineleri A.S. stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 3.682 Buy Candidate Downgraded
Predicted Opening Price for Türk Traktör ve Ziraat Makineleri A.S. of Wednesday, May 15, 2024
| Fair opening price May 15, 2024 | Current price |
|---|---|
| TRY 973.17 ( 1.15%) | TRY 984.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TTRAK.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,014.17 | 3.01 % | |
| R2 | 998.50 | 1.42 % | ||
| R1 | 988.83 | 0.440 % | ||
| Current price: | 984.50 | |||
| Support | S1 | 957.50 | -2.74 % | |
| S2 | 947.83 | -3.72 % | ||
| S3 | 932.17 | -5.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 989.00 | 0.457 % | ||
| R1 | 988.00 | 0.356 % | ||
| Current price | 984.50 | |||
| Support | S1 | 910.00 | -7.57% | |
| S2 | 908.50 | -7.72% | ||
| S3 | 859.00 | -12.75% |
TTRAK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 01, 2024 | Apr 01, 2024 | Apr 03, 2024 | TRY 62.96 | 7.21% |
| 2 | Mar 10, 2023 | Mar 10, 2023 | Mar 10, 2023 | TRY 39.35 | 13.31% |
| 3 | Mar 28, 2022 | Mar 28, 2022 | Mar 28, 2022 | TRY 22.48 | 17.81% |
| 4 | Mar 25, 2021 | Mar 25, 2021 | Mar 25, 2021 | TRY 15.93 | 14.23% |
| 5 | Mar 20, 2020 | Mar 20, 2020 | Mar 20, 2020 | TRY 1.87 | 8.69% |
FAQ
Click here for our free guide on how to buy Türk Traktör ve Ziraat Makineleri A.S. Stock.
