Buy Saudi Electricity | Tadawul 5110 | Naranj Capital

 BUY   Saudi Electricity (TADAWUL: 5110)

Tadawul 5110 : Saudi Electricity - STOCK RECOMMENDATION

Idea BUY
Buy Range 19.8 – 20.2
Target 21.2 – 21.5
StopLoss* below 19.4
Duration 14-16 Trading Days
Potential Returns 5 – 6%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 19.8 – 20.2 21.2 – 21.5 below 19.4 14-16 Trading Days 5 – 6%

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

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Tadawul 5110 : Saudi Electricity - STOCK OVERVIEW

Saudi Electricity involves in the generation and distribution of electricity power. It provides, and transmits electricity power, either by itself or through its subsidiaries to the Kingdom of Saudi Arabia. The company was founded on April 5, 2000 and is headquartered in Riyadh, Saudi Arabia.

Stock Data
TADAWUL Code 5110
Sectoral Index Utilities
52 Weeks High 20.46
52 Weeks Low 19.9

Tadawul 5110 : Saudi Electricity - RELATIVE STRENGTH

Relative Performance - Last 1 Year

Saudi Electricity —     TASI —

Tadawul 5110 : Saudi Electricity - TECHNICAL ANALYSIS (Daily)

Saudi Electricity - Technical Analysis (Daily)
  • After a sharp downfall, price took support at around 17 level and started making Higher Highs and Lows.
  • During this time, price has formed a Symmetrical Triangle pattern.
  • With a strong breakout, supported by the volume, price is trying to move upwards.
  • Looking at the chart, we can expect that the price will hold this trend and move upside.

Tadawul 5110 : Saudi Electricity - DMI Indicator

Saudi Electricity - DMI 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 5110 : Saudi Electricity - MACD

Saudi Electricity - 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 5110 : Saudi Electricity - RSI

Saudi Electricity - RSI
  • Current RSI of this stock is 66.75, which indicates the strength of buyers.

CONCLUSION - Tadawul 5110 : Saudi Electricity STOCK PRICE FORECAST

Based on our stock trading advice in Saudi Arabia, Saudi Electricity stock price target will be SAR 21.2 – SAR 21.5 in the next 14-16 trading sessions.

Tadawul 5110 : Saudi Electricity - TRADINGVIEW POSITION UPDATE

Follow Tadawul 5110 : Saudi Electricity 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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