- Naranj Research Desk
- 🇸🇦 Saudi Stock Market
- 🇺🇸 USA Stock Market
Riyad Cable Group Company produces and deals with electrical transmitters, telecommunication cables and various kind of cables with in middle east and all over the world. The company works in four segment – 1) production 2) sales of various cables 3) maintenance and 4) project works. The Group produces low voltage, medium, high and super voltage electrical cables and wires manufactured from copper or aluminum. Inside and outside of the KSA, this Group works on High Voltage (HV) electrical projects. This company also engages in construction and maintenance of industrial buildings and production lines.
RIYADH CABLES — TASI —
We can observe that the short-term Moving Average (10), crossed over the longer-term Moving Average (20), which gives a strong bullish signal. This is also known as a “Golden Cross” and indicates a potential upmove further.
Increasing ADX value above 20, indicated the strength of the trend, thereby uptrending ADX confirms the bullish or bearish supportive decisions. Along with the rising ADX, and the +DI is above (or crossing) -DI, indicates the long trades should be favoured.
The price is continuously hugging the upper band since Dec’23 and sometimes exceeded and took support above it. This signifies, the stock is in a strong uptrend.
Based on our short term trading of Saudi stocks, Riyadh Cables Group stock price target will be SAR 108 - SAR 111 in the next 14-15 trading sessions.
MONEY MANAGEMENT AND TRADING RULES
● Buy within the recommended price range.
● No need to rush. The recommendation remains valid for up to 7 days, not just at the market open.
● Always respect the stop-loss. It defines your risk on the trade.
● Once the trade moves in your favour, use a trailing stop-loss to protect and lock in profits.
● Spread your trading capital across our other recommended stocks instead of putting it all into one trade.
● Invest responsibly. Your ideal position size should be based on the downside risk of this trade, not the potential upside. Before entering, assess how much loss you can comfortably and financially absorb if it goes against you, and set your position size accordingly. Hedge positions where appropriate.
ANALYST SUMMARY
This research is prepared by the Naranj Capital research team under the guidance of Arijit Banerjee, CMT, CFTe, Founder and Director of Naranj Capital. Stock selection and all trade levels, including the buy range, targets and stop-loss, are personally finalised by him.
Arijit is a veteran trader and active investor with over 16 years of experience across global markets. He has in-depth expertise in financial market research, advanced technical analysis, market cycles, algorithmic trading and portfolio management. He is a Chartered Market Technician (CMT), accredited by the CMT Association, USA, the leading global authority on technical analysis. He also holds the Certified Financial Technician (CFTe) designation from the International Federation of Technical Analysts (IFTA).
The views expressed herein are based on publicly available information, internal research and other sources believed to be reliable, but not necessarily all-inclusive and not guaranteed as to accuracy. The recommendations provided herein are 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. Past performance is not indicative of future results. To read the full disclosure, please click here.
