Tukas Gida Sanayi ve Ticaret A.S. Stock Forecast
Stronger technical forecast for Tukas Gida Sanayi ve Ticaret A.S. stock price after Tuesday trading.
(Updated on Jul 02, 2024)
The Tukas Gida Sanayi ve Ticaret A.S. stock price gained 0.143% on the last trading day (Tuesday, 2nd Jul 2024), rising from TRY 7.00 to TRY 7.01. During the last trading day the stock fluctuated 1.72% from a day low at TRY 6.98 to a day high of TRY 7.10. The price has fallen in 6 of the last 10 days and is down by -3.97% for this period. Volume fell on the last day by -3 million shares and in total, 12 million shares were bought and sold for approximately TRY 83.38 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 lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at TRY 6.98 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -11.99% during the next 3 months and, with a 90% probability hold a price between TRY 6.14 and TRY 7.28 at the end of this 3-month period.
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TUKAS.IS Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, July 01, 2024, and so far it has risen 0.143%. 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 Tukas Gida Sanayi ve Ticaret 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 7.25 and TRY 7.56. 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 Tukas Gida Sanayi ve Ticaret A.S. stock
Tukas Gida Sanayi ve Ticaret A.S. finds support from accumulated volume at TRY 7.00 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 0.120 between high and low, or 1.72%. For the last week, the stock has had daily average volatility of 3.12%.
Our recommended stop-loss: TRY 6.60 (-5.92%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 41 days ago.)
Trading Expectations (TUKAS.IS) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Tukas Gida Sanayi ve Ticaret A.S. to open at TRY 7.03, and during the day (based on 14 day Average True Range), to move between TRY 6.77 and TRY 7.25, which gives a possible trading interval of +/-TRY 0.237 (+/-3.38%) up or down from last closing price. If Tukas Gida Sanayi ve Ticaret A.S. takes out the full calculated possible swing range there will be an estimated 6.76% 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 7.00 (0.14%) than the resistance at TRY 7.94 (13.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Tukas Gida Sanayi ve Ticaret A.S. stock A Buy?
Tukas Gida Sanayi ve Ticaret A.S. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.385 Hold/Accumulate Upgraded
Predicted Opening Price for Tukas Gida Sanayi ve Ticaret A.S. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| TRY 7.03 ( 0.285%) | TRY 7.01 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TUKAS.IS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.15 | 2.00% |
| R2 | 7.10 | 1.34% |
| R1 | 7.08 | 0.94% |
| Price | 7.01 | |
| S1 | 6.98 | -0.369% |
| S2 | 6.96 | -0.773% |
| S3 | 6.91 | -1.43% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.47 | 20.83% |
| R2 | 8.13 | 15.98% |
| R1 | 7.94 | 13.27% |
| Price | 7.01 | |
| S1 | 7.00 | -0.143% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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