Turkcell Iletisim Hizmetleri AS

TKC has begun a Stage 1 base with a primary Momentum Breakout signaling new demand overwhelming prior supply at the range top. The medium-term directional asymmetry is bullish, but the price is extended well above rising EMAs, advising patience. Execution should involve stalking pullbacks into the breakout zone near the 9/21 EMA region and prior resistance-turned-support. A failure to hold these levels would invalidate the bullish case.

• ↑Q1 revenue +9% to 68B TRY; net income +15% to 4.6B TRY
• ↑Digital services revenue +64% YoY; 661K post-paid net additions
• ↓ARPU growth hindered by competitive pricing and inflation pressures