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...
I think there is a double bottom here. We should wait the 4th wave and confirmation for accumulated buying then target for the next resistance. Possible %15-%20 Gain
-I'll update this chart when analysis completed
The price is currently at the low FIB levels and trying to find support.
If it can find support, the price may rise 21-22 TRY range.
RSI and MACD are recovering, which is a positive sign.
Volume accumulation from the buy side also signals an uptrend.
It is not investment advise.