ASTOR: Limit-down to limit-up on record volume Astor Enerji A.S.BIST_DLY:ASTORCelikAnalyticsAfter three consecutive limit-down sessions (BIST's daily −10% limit) triggered by news of a capital markets investigation, ASTOR opened near the lower limit on October 1 (low 172.10 TRY) and closed at the upper limit (209.60 TRY). The same day set an all-time volume record for the stock. A candle that shows both panic selling and aggressive buying in a single session is often read as a capitulation candle, a sign that selling pressure may be exhausting. What supports the bull case Record-volume reversal: Demand at the lows absorbed a large part of the forced selling. Foreign interest: Strong net buying went through a foreign broker on the reversal day. Operations appear intact: The company stated that its commercial activities continue without interruption. In late August it disclosed new contracts worth roughly USD 98 million. Valuation gap: Before the investigation, brokerage price targets ranged from 367 to 452 TRY. These may be revised, but the stock is still about 45% below its June high of 385.75. Technical view On my own oscillator, Konfluans Pro+, ASTOR sits in the "Deep oversold" zone. The setup score is 68/100 (STRONG), but there is no trigger yet. I don't treat this as a confirmed reversal until the oscillator line turns up and crosses its signal line. Levels I'm watching: 211.70: September 29 close. Price is sitting just below it. A daily close above is the first confirmation. 235.20: September 28 close, the first limit-down of the sell-off. First target and first major resistance. 245–261: Pre-investigation equilibrium zone. Second target. 300: Medium-term target, only if price holds above 261. Invalidation / Risks A daily close below 172.10 (the low of the reversal candle) invalidates this scenario. A slip below 190.60 is the first warning. Any new development in the investigation that directly affects the company or its management could break the technical picture entirely. The company disclosed holdings in investment funds that have been placed into liquidation. The balance-sheet impact is not yet clear. A single limit-up day inside a steep downtrend can also be a dead cat bounce. The closes over the following sessions matter for confirmation. This is not investment advice and reflects my personal analysis only. Size your positions and set your stop-loss according to your own risk tolerance.