Company: Turkiye Garanti Bankasi
Ticker: GARAN
Exchange: BIST
Sector: Financials
Introduction:
Welcome to our daily technical analysis, focusing today on Turkiye Garanti Bankasi (GARAN), a leading player in the Financials sector, listed on the BIST.
Ascending Triangle Pattern:
This Ascending Triangle pattern forms during an uptrend and is viewed as a bullish continuation pattern. It's characterized by a horizontal resistance line (formed by equal highs) and an ascending trend line (formed by increasing lows), illustrating the rising bullish sentiment.
Analysis:
Garanti Bankasi's chart is displaying a clear Ascending Triangle pattern. The upper horizontal boundary sits at 31.80 TRY, with three points of contact—the third being a false breakout which underscores the importance of stop losses. The lower, upward-sloping boundary also has three touch points.
Moreover, the 200 EMA is acting as robust support, suggesting a bullish environment and favoring long setups. Given these factors, we're keeping a keen eye on this chart for a potential breakout above the horizontal resistance. A breakout could present an opportunity for a long position.
The price target, assuming a successful breakout, is set at 45.60 TRY, implying a potential gain of approximately 43.50%.
Conclusion:
Garanti Bankasi's daily chart presents an interesting setup in the form of an Ascending Triangle, indicative of a potential bullish continuation. This analysis should form part of a broader market research and risk management strategy.
Remember, this is not financial advice and investing always carries risk.
If you found this analysis helpful, please consider liking, sharing, and following for more insights. Wishing you profitable trading!
Best regards,
Karim Subhieh
Ticker: GARAN
Exchange: BIST
Sector: Financials
Introduction:
Welcome to our daily technical analysis, focusing today on Turkiye Garanti Bankasi (GARAN), a leading player in the Financials sector, listed on the BIST.
Ascending Triangle Pattern:
This Ascending Triangle pattern forms during an uptrend and is viewed as a bullish continuation pattern. It's characterized by a horizontal resistance line (formed by equal highs) and an ascending trend line (formed by increasing lows), illustrating the rising bullish sentiment.
Analysis:
Garanti Bankasi's chart is displaying a clear Ascending Triangle pattern. The upper horizontal boundary sits at 31.80 TRY, with three points of contact—the third being a false breakout which underscores the importance of stop losses. The lower, upward-sloping boundary also has three touch points.
Moreover, the 200 EMA is acting as robust support, suggesting a bullish environment and favoring long setups. Given these factors, we're keeping a keen eye on this chart for a potential breakout above the horizontal resistance. A breakout could present an opportunity for a long position.
The price target, assuming a successful breakout, is set at 45.60 TRY, implying a potential gain of approximately 43.50%.
Conclusion:
Garanti Bankasi's daily chart presents an interesting setup in the form of an Ascending Triangle, indicative of a potential bullish continuation. This analysis should form part of a broader market research and risk management strategy.
Remember, this is not financial advice and investing always carries risk.
If you found this analysis helpful, please consider liking, sharing, and following for more insights. Wishing you profitable trading!
Best regards,
Karim Subhieh
KSC
