Viking Kagit ve Selüloz A.S. Stock Forecast
Volatile ride for Viking Kagit ve Selüloz A.S. stock price on Friday moving between TRY 39.16 and TRY 44.00
(Updated on Apr 19, 2024)
The Viking Kagit ve Selüloz A.S. stock price gained 2.65% on the last trading day (Friday, 19th Apr 2024), rising from TRY 41.54 to TRY 42.64. During the last trading day the stock fluctuated 12.36% from a day low at TRY 39.16 to a day high of TRY 44.00. The price has risen in 6 of the last 10 days and is up by 0.33% over the past 2 weeks. Volume fell on the last day by -629 thousand shares and in total, 2 million shares were bought and sold for approximately TRY 83.70 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 part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at TRY 41.83 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 47.61% during the next 3 months and, with a 90% probability hold a price between TRY 61.74 and TRY 80.23 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.
VKING.IS Signals & Forecast
The Viking Kagit ve Selüloz A.S. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately TRY 43.52. On a fall, the stock will find some support from the long-term average at approximately TRY 41.41. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Monday, March 11, 2024, and so far it has fallen -9.04%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Viking Kagit ve Selüloz A.S. stock
Viking Kagit ve Selüloz A.S. finds support from accumulated volume at TRY 42.62 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 4.84 between high and low, or 12.36%. For the last week, the stock has had daily average volatility of 10.39%.
Our recommended stop-loss: TRY 40.76 (-4.41%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 26 days ago.)
Trading Expectations (VKING.IS) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Viking Kagit ve Selüloz A.S. to open at TRY 41.93, and during the day (based on 14 day Average True Range), to move between TRY 39.36 and TRY 45.92, which gives a possible trading interval of +/-TRY 3.28 (+/-7.69%) up or down from last closing price. If Viking Kagit ve Selüloz A.S. takes out the full calculated possible swing range there will be an estimated 15.39% 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 42.62 (0.05%) than the resistance at TRY 43.46 (1.92%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Viking Kagit ve Selüloz 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 Viking Kagit ve Selüloz A.S. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.968 Buy Candidate Upgraded
Predicted Opening Price for Viking Kagit ve Selüloz A.S. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| TRY 41.93 ( 1.66%) | TRY 42.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VKING.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 46.77 | 9.69 % | |
| R2 | 44.92 | 5.36 % | ||
| R1 | 43.78 | 2.68 % | ||
| Current price: | 42.64 | |||
| Support | S1 | 40.08 | -5.99 % | |
| S2 | 38.94 | -8.67 % | ||
| S3 | 37.09 | -13.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 43.70 | 2.49 % | |
| R2 | 43.50 | 2.02 % | ||
| R1 | 43.46 | 1.92 % | ||
| Current price | 42.64 | |||
| Support | S1 | 42.62 | -0.0469% | |
| S2 | 39.78 | -6.71% | ||
| S3 | 37.84 | -11.26% |
FAQ
Click here for our free guide on how to buy Viking Kagit ve Selüloz A.S. Stock.
