Yeni Gimat Gayrimenkul Yatirim Ortakligi Stock Forecast
Yeni Gimat Gayrimenkul Yatirim Ortakligi stock upgraded to Buy Candidate.
(Updated on Jun 25, 2024)
The Yeni Gimat Gayrimenkul Yatirim Ortakligi stock price fell by -2.10% on the last day (Tuesday, 25th Jun 2024) from TRY 52.30 to TRY 51.20. During the last trading day the stock fluctuated 2.83% from a day low at TRY 51.15 to a day high of TRY 52.60. The price has been going up and down for this period, and there has been a 10.73% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -323 thousand shares and in total, 216 thousand shares were bought and sold for approximately TRY 11.06 million.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at TRY 52.41 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 13.69% during the next 3 months and, with a 90% probability hold a price between TRY 51.68 and TRY 59.59 at the end of this 3-month period.
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YGGYO.IS Signals & Forecast
The Yeni Gimat Gayrimenkul Yatirim Ortakligi 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 48.74 and TRY 47.41. 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). 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, June 24, 2024, and so far it has fallen -2.10%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Yeni Gimat Gayrimenkul Yatirim Ortakligi stock
Yeni Gimat Gayrimenkul Yatirim Ortakligi finds support from accumulated volume at TRY 49.96 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 1.45 between high and low, or 2.83%. For the last week, the stock has had daily average volatility of 5.89%.
Our recommended stop-loss: TRY 49.09 (-4.13%) (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 (YGGYO.IS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Yeni Gimat Gayrimenkul Yatirim Ortakligi A.S. to open at TRY 51.65, and during the day (based on 14 day Average True Range), to move between TRY 49.25 and TRY 53.15, which gives a possible trading interval of +/-TRY 1.95 (+/-3.82%) up or down from last closing price. If Yeni Gimat Gayrimenkul Yatirim Ortakligi A.S. takes out the full calculated possible swing range there will be an estimated 7.63% 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 52.30 (2.15%) than the support at TRY 49.96 (2.42%), 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 Yeni Gimat Gayrimenkul Yatirim Ortakligi 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 Yeni Gimat Gayrimenkul Yatirim Ortakligi 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: 2.788 Buy Candidate Upgraded
Predicted Opening Price for Yeni Gimat Gayrimenkul Yatirim Ortakligi A.S. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| TRY 51.65 ( 0.88%) | TRY 51.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for YGGYO.IS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 53.10 | 3.71% |
| R2 | 52.55 | 2.63% |
| R1 | 52.20 | 1.96% |
| Price | 51.20 | |
| S1 | 51.10 | -0.203% |
| S2 | 50.75 | -0.87% |
| S3 | 50.20 | -1.95% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 52.30 | 2.15% |
| Price | 51.20 | |
| S1 | 49.96 | -2.42% |
| S2 | 45.44 | -11.25% |
| S3 | 44.04 | -13.98% |
FAQ
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