Company: Gedik Yatirim Menkul Degerler
Ticker: GEDYH
Exchange: BIST
Sector: Financials
Introduction:
Welcome to our weekly technical analysis, where today we're focusing on Gedik Yatirim Menkul Degerler (GEDYH), listed on the BIST in the Financials sector. The weekly chart showcases a Cup and Handle formation, suggesting a bullish continuation.
Cup and Handle Pattern:
A Cup and Handle pattern is a bullish continuation pattern that marks a period of consolidation followed by a breakout. It's characterized by a "cup" - a round, bowl-like pattern, and a "handle" - a small bearish channel or consolidation, following which a breakout occurs.
Analysis:
GEDYH's chart demonstrates a clear Cup and Handle formation over the course of 833 days. This pattern often indicates a bullish continuation, signaling potential for growth. The price is convincingly above the 200 EMA, further emphasizing the bullish environment and a preference for long setups.
The horizontal resistance is established at 8.23 TRY. If we witness a breakout above this level, we could potentially initiate a long position. The price target, following a successful breakout, is set at 12.78 TRY, representing an estimated gain of approximately 55.83%.
Conclusion:
GEDYH's weekly chart presents an interesting Cup and Handle formation, suggesting a potential bullish continuation. This analysis should be part of a comprehensive market research and risk management strategy.
Please note, 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: GEDYH
Exchange: BIST
Sector: Financials
Introduction:
Welcome to our weekly technical analysis, where today we're focusing on Gedik Yatirim Menkul Degerler (GEDYH), listed on the BIST in the Financials sector. The weekly chart showcases a Cup and Handle formation, suggesting a bullish continuation.
Cup and Handle Pattern:
A Cup and Handle pattern is a bullish continuation pattern that marks a period of consolidation followed by a breakout. It's characterized by a "cup" - a round, bowl-like pattern, and a "handle" - a small bearish channel or consolidation, following which a breakout occurs.
Analysis:
GEDYH's chart demonstrates a clear Cup and Handle formation over the course of 833 days. This pattern often indicates a bullish continuation, signaling potential for growth. The price is convincingly above the 200 EMA, further emphasizing the bullish environment and a preference for long setups.
The horizontal resistance is established at 8.23 TRY. If we witness a breakout above this level, we could potentially initiate a long position. The price target, following a successful breakout, is set at 12.78 TRY, representing an estimated gain of approximately 55.83%.
Conclusion:
GEDYH's weekly chart presents an interesting Cup and Handle formation, suggesting a potential bullish continuation. This analysis should be part of a comprehensive market research and risk management strategy.
Please note, 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
