Now the price is going in a triangle with downtrend. Downtrend started on 20/6 and still working, support line is on 2,23. It has been tested 4-5 times but couldn't break the support. When we look at the indicators;
1- RSI broke the support on 3rd try. It may continue to 30's,
2- Parabolic SAR started to show that price will continue to go down,
Turkish REIT EKGYO (Emlak Konut GYO) is currently at a value (1,21) far below normally it should be (2,37-3,32). At first sight it seems a great buying opportunity. Now let's look at the chart more carefully.
When we look at the weekly chart, it is still in the downward channel, and the uptrend it catches since the end of May looks like the reaction within...
ARCLK, sold-off sharply after earnings came in well under expectations, causing the equity to fall from 21.21 TRL to 17.56 TRL in just a couple of days. A bounceback in ARCLK could bring the equity back to roughly 18.75 TRL.
The retracement was unexpected, while the sell-off was reasonable after the revisions for the 2019 fiscal year by management but a...
Buy pressure showed itself from very strong yellow support level and pushed the price over the resistance level.
The price is doing retest move on current price, I think it will continue to go up at least to 1.22-24 resistance level.
Stop level is under support level which is around 1.04-05
Following the 425 bps rate cut by the CBRT, the whole banking sector react positively, VAKBN, in particular over extended compared to its sector peers.
Trading roughly around 5.09 TRL in the afternoon session, the equity leads banking in performance intraday. The equity could trace back to support at 4.83 TRL.
Summing up, the conviction is orientated around...
Tomorrow the CBRT is expected to lower rates at a considerable amount, which in return could boost banking higher. The equity has consolidated between 9.47-9.84 TRL for around the last week or so. Priorly, we saw GARAN shoot over a gap.
Could go both ways depending on the extent of the rate cut.
In standart seasons share goes around 14-15 TRY, last season was a disaster for Fenerbahce and shares went down to 6's. After some good transfers, it's expected Fenerbahce to go up top 4 in league again. So that the shares can easily double itself.