Buy Advanced Petrochemical | Tadawul 2330 | Naranj Capital

 BUY   Advanced Petrochemical (TADAWUL: 2330)

Tadawul 2330 : Advanced Petrochemical - STOCK RECOMMENDATION

Idea BUY
Buy Range 80.5 – 82
Target 86 – 87
StopLoss* below 76.5
Duration 12-14 Trading Days
Potential Returns 5 – 6%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 44.3 – 44.9 47.7 – 48.2 below 42.6 12-14 Trading Days 6 – 7%

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

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Tadawul 2330 : Advanced Petrochemical - STOCK OVERVIEW

Advanced Petrochemical is engaged in the manufacture and sale of polypropylene. In May 2005, Advanced started the construction of its integrated petrochemical plants, located in Jubail Industrial City in the Eastern Province of the Kingdom of Saudi Arabia, which started its commercial production from its polypropylene facility on the March 03, 2008. The integrated plant is designed to produce 455,000 tons per year of propylene and 450,000 tons per year of polypropylene (nameplate capacities) from its production facility.

Stock Data
TADAWUL Code 2330
Sectoral Index Materials
52 Weeks High 46
52 Weeks Low 43.7

Tadawul 2330 : Advanced Petrochemical - RELATIVE STRENGTH

Relative Performance - Last 1 Year

Advanced Petrochemical —     TASI —

Tadawul 2330 : Advanced Petrochemical - TECHNICAL ANALYSIS (DAILY)

Tadawul 2330-Advanced Petrochemical-Daily Technical Analysis
Advanced Petrochemical - Technical Analysis (Daily)
  • After a deep downfall, price took support at around 36 level.
  • After that, the price started making higher highs and lows slowly.
  • In last few trading sessions, the volume has become impressively high.
  • With a strong breakout, price is further going upside.
  • We can expect the price to move upside further and make new highs.

Tadawul 2330 : Advanced Petrochemical - Directional Movement Indicator

Advanced Petrochemical - Directional Movement Indicator
  • 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.

Tadawul 2330 : Advanced Petrochemical - MACD

Advanced Petrochemical - MACD
  • MACD line has just crossed the signal line from the below and a positive histogram chart is forming. This can be considered as a bullish signal.

Tadawul 2330 : Advanced Petrochemical - RSI

Riyad Bank - Technical Analysis (Daily)
  • Current RSI of this stock is 77.15, which indicates the strength of buyers.

CONCLUSION - Tadawul 2330 : Advanced Petrochemical STOCK PRICE FORECAST

Based on our stock trading advice in Saudi Arabia, Advanced Petrochemical stock price target will be SAR 47.7 – SAR 48.2 in the next 12-14 trading sessions.

Tadawul 2330 : Advanced Petrochemical - TRADINGVIEW POSITION UPDATE

Follow Tadawul 2330 : Advanced Petrochemical 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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