Turkiye Garanti Bankasi A.S. Stock Forecast
Red day on Wednesday for Turkiye Garanti Bankasi A.S.
(Updated on Mar 27, 2024)
The Turkiye Garanti Bankasi A.S. stock price fell by -1.66% on the last day (Wednesday, 27th Mar 2024) from $2.05 to $2.02. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.00% from a day low at $2.00 to a day high of $2.02. The price has fallen in 6 of the last 10 days but is still up by 3.59% over the past 2 weeks. Volume has increased on the last day by 103 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 thousand shares were bought and sold for approximately $3.28 thousand.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.85% during the next 3 months and, with a 90% probability hold a price between $1.73 and $2.09 at the end of this 3-month period.
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TKGBY Signals & Forecast
The Turkiye Garanti Bankasi 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 $2.00 and $1.99. 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 Friday, March 22, 2024, and so far it has fallen -2.88%. Further fall is indicated until a new bottom pivot has been found. Turkiye Garanti Bankasi A.S. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Turkiye Garanti Bankasi A.S. stock
Turkiye Garanti Bankasi A.S. finds support from accumulated volume at $2.00 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 $0.0200 between high and low, or 1.00%. For the last week, the stock has had daily average volatility of 2.94%.
Our recommended stop-loss: $1.94 (-3.98%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (TKGBY) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Turkiye Garanti Bankasi A.S. to open at $2.01, and during the day (based on 14 day Average True Range), to move between $1.90 and $2.14, which gives a possible trading interval of +/-$0.117 (+/-5.81%) up or down from last closing price. If Turkiye Garanti Bankasi A.S. takes out the full calculated possible swing range there will be an estimated 11.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.00 (0.99%) than the resistance at $2.05 (1.49%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Turkiye Garanti Bankasi A.S. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.915 Buy Candidate Unchanged
Predicted Opening Price for Turkiye Garanti Bankasi A.S. of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$2.01 ( 0.330%) | $2.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TKGBY
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.03 | 0.660 % | |
R2 | 2.03 | 0.282 % | ||
R1 | 2.02 | 0.0482 % | ||
Current price: | 2.02 | |||
Support | S1 | 2.01 | -0.708 % | |
S2 | 2.00 | -0.94 % | ||
S3 | 1.99 | -1.32 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.10 | 3.96 % | |
R2 | 2.06 | 1.98 % | ||
R1 | 2.05 | 1.49 % | ||
Current price | 2.02 | |||
Support | S1 | 2.00 | -0.99% | |
S2 | 1.98 | -1.98% | ||
S3 | 1.95 | -3.47% |
TKGBY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 28, 2024 | Mar 28, 2024 | Apr 12, 2024 | $0.0768 | 3.80% |
2 | Jul 15, 2023 | Apr 17, 2023 | Apr 28, 2023 | $0.0854 | 6.23% |
3 | May 20, 2022 | May 25, 2022 | Jun 06, 2022 | $0.0161 | 1.79% |
4 | Apr 24, 2018 | Apr 24, 2018 | Apr 24, 2018 | $0.105 | 4.49% |
5 | Apr 24, 2017 | Apr 24, 2017 | Apr 24, 2017 | $0.0820 | 3.06% |
FAQ
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