Usak Seramik Sanayi A.S. Stock Forecast
Usak Seramik Sanayi A.S. stock upgraded to Strong Buy Candidate.
(Updated on Jun 21, 2024)
The Usak Seramik Sanayi A.S. stock price gained 4.32% on the last trading day (Friday, 21st Jun 2024), rising from TRY 12.26 to TRY 12.79. 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 8.62% from a day low at TRY 12.41 to a day high of TRY 13.48. The price has risen in 7 of the last 10 days and is up by 54.28% 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, 5 million more shares were traded than the day before. In total, 19 million shares were bought and sold for approximately TRY 241.21 million.
Given the current short-term trend, the stock is expected to fall -3.08% during the next 3 months and, with a 90% probability hold a price between TRY 7.68 and TRY 12.40 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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USAK.IS Signals & Forecast
Mostly positive signals in the chart today. The Usak Seramik Sanayi 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 10.82 and TRY 9.34. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 05, 2024, and so far it has risen 60.08%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Usak Seramik Sanayi A.S. stock
Usak Seramik Sanayi A.S. finds support from accumulated volume at TRY 12.26 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved TRY 1.07 between high and low, or 8.62%. For the last week, the stock has had daily average volatility of 10.72%.
The Usak Seramik Sanayi A.S. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: TRY 12.35 (-3.44%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (USAK.IS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Usak Seramik Sanayi A.S. to open at TRY 12.89, and during the day (based on 14 day Average True Range), to move between TRY 11.99 and TRY 13.59, which gives a possible trading interval of +/-TRY 0.798 (+/-6.24%) up or down from last closing price. If Usak Seramik Sanayi A.S. takes out the full calculated possible swing range there will be an estimated 12.47% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ TRY 12.26, some TRY 0.530 (4.14%) from the current price of TRY 12.79, our system finds the risk reward attractive.
Is Usak Seramik Sanayi A.S. stock A Buy?
Usak Seramik Sanayi A.S. holds several positive signals and despite the stock being in a falling trend, we considered it to be a good choice at these current levels. We expect Usak Seramik Sanayi A.S. stock will perform very well in the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 6.688 Strong Buy Candidate Upgraded
Predicted Opening Price for Usak Seramik Sanayi A.S. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| TRY 12.89 ( 0.81%) | TRY 12.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for USAK.IS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.96 | 9.17% |
| R2 | 13.55 | 5.98% |
| R1 | 13.30 | 4.00% |
| Price | 12.79 | |
| S1 | 12.48 | -2.39% |
| S2 | 12.23 | -4.36% |
| S3 | 11.82 | -7.56% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 12.79 | |
| S1 | 12.26 | -4.14% |
| S2 | 11.15 | -12.82% |
| S3 | 10.61 | -17.04% |
FAQ
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