Turkcell Iletisim Hizmetleri AS

The chart remains under clear supply dominance, with the primary pattern of lower highs and lower lows intact and EMAs/SMA trending downward. Medium-term bias is bearish; the recent bounce into the 9/20 EMAs and 50-day SMA reduces immediate selling efficiency, suggesting deferred execution on rallies into the EMA/SMA zone. A breach below the recent low around 5.25 would accelerate the downside continuation.

• ↑Q2 revenue up 2.5% YoY to TRY71.8 bn despite inflation
• ↑EBITDA margin at 41.8% reflects robust cost management
• ↓Negative earnings revisions raise concerns over profit momentum