BIST 100 Index Recovers with Nearly 5% Gain

The BIST 100 staged a strong recovery over the past 24 hours, gaining 3.9%. Although the RSI at 67 places it in overbought territory, the MACD remaining above its signal line and the price trading above both the 20- and 50-day moving averages support a short-term bullish trend. A continued 5% gain is expected, though resistance levels may lie nearby. Over the next 1-3 days, the price is likely to fluctuate within the 11,550-11,600 range, but the overall trend will remain upward. Accordingly, a buy bias may be recommended for short-term positions.

The news headline concerns the BIST 100 index and has no direct connection to GOOGL; therefore, its impact is limited and indirect. GOOGL's technical picture is weak: the price is below the SMA20 and SMA50, MACD is in negative territory, and RSI at 36 confirms weak momentum. In the short term, the SMA20 around $280 can be watched as resistance, with the $275-278 band as support. Any potential positive reflection of the news on overseas risk appetite may remain limited. For this reason, direction is uncertain, and a cautious neutral stance appears appropriate.