BIST 100 Closes with Sharp Decline: Index Falls 5.54%

The XU100 index closed at 13,122.58, down 5.54% in the last 24 hours. The RSI14 indicator is at 17.94, in oversold territory, which typically increases the likelihood of a short-term rebound. However, MACD is negative and below the signal line, and the price is significantly below the 20 and 50-day moving averages, indicating a strong downtrend. The news headline confirms the decline and market sentiment is quite weak. In the short term (1-3 days), a limited recovery due to oversold conditions may occur, but the main direction may remain downward; therefore, I maintain a cautious bearish stance.

GARAN stock lost 5.4% in parallel with the BIST 100's sharp 5.54% decline and closed at 120.9 TL. The RSI14 indicator is at 15.2, in oversold territory, signaling that short-term rebound buying may emerge. However, MACD is negative and below its signal line, while the price is significantly below its 20- and 50-day moving averages; this indicates that the downtrend is strong. Due to negativity in the news flow and weakness in technical indicators, downside risk may continue over the next 1-3 days. Nevertheless, oversold conditions also bring with them the possibility of a short-term recovery after sharp selling.

AKBNK declined by 6.25%, in line with the sharp 5.54% drop in the BIST 100 index. Although the RSI at 26.4 approaches oversold territory, the MACD remains negative and below its signal line, indicating that downward momentum persists. The price is significantly below its 20- and 50-day moving averages, confirming a short-term downtrend. However, oversold conditions and potential bargain hunting could slow the pace of the decline. While downside risk continues in the 1-3 day horizon, the possibility of a rebound should not be overlooked.