Zorlu Enerji Elektrik Üretim A.S. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Green day on Friday for Zorlu Enerji Elektrik Üretim A.S. stock after gaining 0.90%
(Updated on Apr 26, 2024)
The Zorlu Enerji Elektrik Üretim A.S. stock price gained 0.90% on the last trading day (Friday, 26th Apr 2024), rising from TRY 6.65 to TRY 6.71. It has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 6.28% from a day low at TRY 6.53 to a day high of TRY 6.94. The price has risen in 8 of the last 10 days and is up by 15.09% over the past 2 weeks. Volume fell on the last day by -242 million shares and in total, 444 million shares were bought and sold for approximately TRY 2.98 billion. 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 upper part of a very 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 6.93 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 19.45% during the next 3 months and, with a 90% probability hold a price between TRY 6.55 and TRY 8.27 at the end of this 3-month period.
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ZOREN.IS Signals & Forecast
The Zorlu Enerji Elektrik Üretim 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 6.24 and TRY 5.65. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 04, 2024, and so far it has risen 27.57%. 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 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. The stock had a Golden Star Signal on Tuesday, March 26, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Tuesday, March 26, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Zorlu Enerji Elektrik Üretim A.S. stock
On the downside, the stock finds support just below today's level from accumulated volume at TRY 5.81 and TRY 5.44. 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, Zorlu Enerji Elektrik Üretim A.S. finds support just below today's level at TRY 5.81. If this is broken, then the next support from accumulated volume will be at TRY 5.44 and TRY 5.40.
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 0.410 between high and low, or 6.28%. For the last week, the stock has had daily average volatility of 7.04%.
Since the Zorlu Enerji Elektrik Üretim A.S. has been rising for 7 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: TRY 6.49 (-3.22%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (ZOREN.IS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Zorlu Enerji Elektrik Üretim A.S. to open at TRY 6.73, and during the day (based on 14 day Average True Range), to move between TRY 6.34 and TRY 7.08, which gives a possible trading interval of +/-TRY 0.373 (+/-5.56%) up or down from last closing price. If Zorlu Enerji Elektrik Üretim A.S. takes out the full calculated possible swing range there will be an estimated 11.12% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ TRY 5.81, some TRY 0.90 (13.41%) from the current price of TRY 6.71, our system finds the risk reward attractive.
Is Zorlu Enerji Elektrik Üretim A.S. stock A Buy?
Zorlu Enerji Elektrik Üretim A.S. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Zorlu Enerji Elektrik Üretim A.S. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| TRY 6.73 ( 0.248%) | TRY 6.71 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZOREN.IS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.14 | 6.36 % | |
| R2 | 6.98 | 4.02 % | ||
| R1 | 6.88 | 2.58 % | ||
| Current price: | 6.71 | |||
| Support | S1 | 6.57 | -2.09 % | |
| S2 | 6.47 | -3.53 % | ||
| S3 | 6.32 | -5.86 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 6.71 | |||
| Support | S1 | 5.81 | -13.41% | |
| S2 | 5.44 | -18.93% | ||
| S3 | 5.40 | -19.52% |
ZOREN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 24, 2005 | Jun 24, 2005 | Jun 24, 2005 | TRY 0.0089 | 0.745% |
FAQ
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