Buy Astra Industrial Group | Tadawul 1212 | Naranj Capital

 BUY   Astra Industrial Group (TADAWUL: 1212)

Tadawul 1212: Astra Industrial Group - STOCK RECOMMENDATION

Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 130 – 135 144 – 148 below 124 14-15 Trading Days 11 – 14%
Idea BUY
Buy Range 130 – 135
Target 144 – 148
StopLoss* below 124
Duration 14-15 Trading Days
Potential Returns 11 – 14%

* Once the first target hit, reset the StopLoss at your buying price.

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Tadawul 1010: Astra Industrial Group - STOCK OVERVIEW

Astra Industrial Group was founded in 1988 and its Headquartered in Riyadh, Saudi Arabia. The company engages in the production, marketing and distribution of medicine and Pharmaceutical products, polymer compounds, plastic additives, color concentrates and other plastic products.The group subsidiaries conduct their businesses inside and outside Kingdom of Saudi Arabia.

Stock Data
TADAWUL Code 1212
Sectoral Index Capital Goods
52 Weeks High 144
52 Weeks Low 51

Tadawul 1212: Astra Industrial Group - RELATIVE STRENGTH

Tadawul 1212-Astra Industrial Group-Relative Strength

Relative Performance - Last 1 Year

Astra Industrial Group —     TASI —

Tadawul 1212: Astra Industrial Group - TECHNICAL ANALYSIS (DAILY)

Tadawul 1212-Astra Industrial Group-Daily Technical Analysis
Tadawul 1212 - Astra Industrial Group - Technical Analysis (Daily)
  • Looking at the chart of Astra Industrial Group, we can see that the stocks price has been consolidating for a while and has formed a Rounding Bottom Pattern, which gave us a Bullish signal.
  • The volume has been completely dried out during the consolidation period.
  • After a strong breakout with a Bullish Marubozu candle the price has made an Ascending Triangle Pattern, which can be observed at the chart.
  • Further a Breakout with a strong Bullish Marubozu candle, the stock price has made a high of 144.
  • Then the price came back and exactly took a retracement at the Breakout level and has formed a strong Bullish Hammer candle.
  • Currently the price has been making ‘Higher Highs and Lows’, indicates buyers’ strength, which is going to take the price to the upper levels.

Tadawul 1212: Astra Industrial Group - Macd

Tadawul 1212-Astra Industrial Group-MACD
Tadawul 1212 - Astra Industrial Group - MACD
  • The MACD line crosses above the Signal line, which is considered a bullish signal, indicating potential upward momentum.

Tadawul 1212: Astra Industrial Group - RSi

Tadawul 1212 - Astra Industrial Group - RSI
  • The current RSI of this stock is 63.64, which indicates strength.

Tadawul 1212: Astra Industrial Group - bollinger bands

Tadawul 1212 - Astra Industrial Group - Bollinger Bands
  • From Nov’23 to Jan’24, price was continuously hugging its upper band. After a short downfall, price took support at the lower band and bounced back. Currently the price is trying to exceed the upper band, which shows the bullish sentiment. 

CONCLUSION - Tadawul 1212: Astra Industrial Group STOCK PRICE FORECAST

Based on our Saudi stock trading ideas, Astra Industrial Group share price target will be SAR 144 – SAR 148 in the next 14-15 trading sessions.

Tadawul 1212: Astra Industrial Group - TRADINGVIEW POSITION UPDATE

Follow Tadawul 1212: Astra Industrial Group TRADING ADVICE On Social Media

MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable to enter/exit in the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other trading recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

Advisor / ANALYST SUMMARY

The stock trading advice is prepared by the Naranj Capital team under the guidance of Arijit Banerjee, CMT, CFTe. Arijit is a veteran trader and an active investor having in-depth knowledge of financial market research, advanced technical analysis, market cycle, algorithmic trading, and portfolio management. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the global authority of Technical Analysis and also has been honored as a Certified Financial Technician (CFTe) by the International Federation of Technical Analysts, USA.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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