Rumors say that a major bank bought this paper. I don' t believe in rumors usually but technical analysis is saying that the next wave is inevitable. NOT FINANCIAL ADVICE.
Entry TRY 88.50
S/L. TRY 83.90
TP1 TRY 92.10
TP2. TRY 96.15
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If this plays out, we could see 80 level which is the second support level, also where ,618 fib level is.
MACD momentum shows, that selling is going on.
Maybe a touch of Sma's and then down.
Divergence and double bottom. Close to historical support zone.
Very nice R:R.
PS:Charts are not for investment purposes , only educational.
Uyumsuzluk ve çift dip oluşumu potansiyel bir dönüş formasyonuna çevirebilir. Tarihi desteğe çok yakın.
R:R çok yüksek.
Not : Analizlerim yatırım tavsiyesi değildir , eğitim amaçlıdır.
Tupras is makin rising wedge with treble top, with lower and lower volume , and falling and falling RSI (making bear flag alike)
A is .618 zone for the rising wedge also where I expect SMA 200 to be, B is .5 for A and C is 1.618 for A and B.
Expecting a bigger drop on long term.
Since the bigger correction and then nice recovery from 94 with "buy recommendation" from Morgan Stanley, Tupras shares went up.
RSI and MACD showing, that momentum is lost and price is in between the channel/triangle. There are few still a space both on RSI and price to move up, which means that it can go all the way up to around 140 which is the top sport of...
So forget about triangles and triangle targets.
Forget about news.
Forget about what is next.
Easy ?
Hard to believe ?
So...
It happened again again again again...
![TUPRS: Good setup for bounce play at Tupras [TUPRS]](https://s3.tradingview.com/v/vwWKhgmV_mid.png "Good setup for bounce play at Tupras [TUPRS]")
![TUPRS: Tupras making bearish 20-50-200 cross [TUPRS]](https://s3.tradingview.com/j/j5JxczUF_mid.png "Tupras making bearish 20-50-200 cross [TUPRS]")
