Buy Riyadh Cables Group | Tadawul 4142 | Naranj Capital

 BUY   Riyadh Cables Group (TADAWUL: 4142)

Tadawul 4142 - Riyadh Cables Group - STOCK RECOMMENDATION

Idea BUY
Buy Range 95 – 98
Target 108 – 111
StopLoss* below 90
Duration 14 – 15 Trading Days
Potential Returns 15 – 17%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 95 – 98 108 – 111 below 90 14 – 15 Trading Days 15 – 17%

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

Our recommendations are authentic and transparent. Find this recommendation posted in Tradingview and Social Media. Be assured such records are permanent and irreversible.

Tadawul 4142 - Riyadh Cables Group - STOCK OVERVIEW

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.

Stock Data
TADAWUL Code 4142
Sectoral Index Capital Goods
52 Weeks High 101
52 Weeks Low 39.75

Tadawul 4142 - Riyadh Cables Group - RELATIVE STRENGTH

Relative Performance - Last 1 Year

Riyadh Cables Group —     TASI —

Tadawul 4142 - Riyadh Cables Group - Technical Analysis (Daily)

TADAWUL 4142_RIYADH CABLES
Tadawul 4142 | Riyadh Cables Group - Technical Analysis in Daily Timeframe
  • We have witnessed the stock was forming ‘Higher highs and higher lows’, since the listing day in the daily time frame, which is a positive sign as per ‘Dow Theory’.
  • There is a short pullback can be observed in the chart in July’23, which can be considered very healthy for any up trending stock.
  • By making Rounding Bottom chart patters the stock continues to hold the trend.
  • There also a Ascending Triangle pattern can be seen in the daily chart, which gives us a indication that the stock is going to make new highs.
  • After the breakout of the Triangle pattern the stock retraces its previous resistance level and continues moving upside.
  • If we give a look at the entire chart, we can observe a very positive thing. The stock never breaks its previous low from the very beginning. Somewhere this activity proves smart money is coming in.

Tadawul 4142 - Riyadh Cables Group - MA Crossover

Tadawul 4142 | Riyadh Cables Group - MA Crossover
  • 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.

Tadawul 4142 - Riyadh Cables Group - ADX

Tadawul 4142 | Riyadh Cables Group - ADX
  • Increasing ADX values above 20, indicates the strength of the trend in either side. Along with the rising ADX, and the +DI is above (or crossing) -DI indicating the long trade should be favoured.

Tadawul 4142 - Riyadh Cables Group - Bollinger Bands

Tadawul 4142 | Riyadh Cables Group - Bollinger Bands
  • 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. 

CONCLUSION -TADAWUL 4142 - Riyadh Cables Group STOCK PRICE FORECAST

Based on our swing stock trading advice in Saudi Arabia, Riyadh Cables Group share price target will be SAR 108 – SAR 111 in the next 14-15 trading sessions.

TADAWUL 4142- Riyadh Cables Group - TRADINGVIEW POSITION UPDATE

TADAWUL 4142- Riyadh Cables 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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