TADAWUL: 1304 : Al Yamamah Steel Industries - STOCK RECOMMENDATION
| Idea | BUY |
| Buy Range | 33.5 – 34 |
| Target | 36.5 – 37 |
| StopLoss* | below 32 |
| Duration | 12-14 Trading Days |
| Potential Returns | 7 – 9% |
| Idea | Buy Range | Target | StopLoss* | Duration | Potential Returns |
| BUY | 33.5 – 34 | 36.5 – 37 | below 32 | 12-14 Trading Days | 7 – 9% |
* Once the first target hit, reset the StopLoss at your buying price.
TADAWUL: 1304 : Al Yamamah Steel Industries - STOCK OVERVIEW
Al Yamamah Steel Industries Company CJSC (formerly Al Yamamah Steel Industries Co) is a joint stock company, is headquartered in Riyadh, Saudi Arabia.The company manufactures metal products for the construction, electrical, and telecommunication sectors.Their products include longitudinally welded steel tubes, decorative steel tubes, steel sheets cutters, packaging straps and clips, road blocks, reinforcing steel bars, wheelbarrows, corrugated steel sheets, hollow steel pieces, cold rolled steel sections, steel space frames, galvanized steel lighting poles, and other related products.The company operates through different business units: Tubes, Poles, Towers.
| Stock Data | |
| TADAWUL Code | 1304 |
| Sectoral Index | Materials |
| 52 Weeks High | 34.55 |
| 52 Weeks Low | 20.26 |
TADAWUL: 1304 : Al Yamamah Steel Industries - RELATIVE STRENGTH
Relative Performance - Last 1 Year
Al Yamamah Steel Industries — TASI —
TADAWUL: 1304 : Al Yamamah Steel Industries - TECHNICAL ANALYSIS (DAILY)
- Price was trading in a broader range of 10 points from Oct’22 to Jan’24.
- During this consolidation phase, price formed a Double Bottom pattern.
- Volume was completely dried out during this consolidation period. But recently volume became very high as the price is getting close to the breakout zone.
- After the breakout price made a high of 34.55.
- With a short retracement price is moving upwards.
- We will be seeing the price to achieve new heights in upcoming days.
TADAWUL: 1304 : Al Yamamah Steel Industries - ADX & DI
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: 1304 : Al Yamamah Steel Industries - MA CROSS
The short length moving average (10 SMA) has crossed the long length moving average (20 SMA) from the below, generates bullish signal. Last day’s candle has closed above all these moving averages. This suggests buyers are taking interest in this stock.
TADAWUL: 1304 : Al Yamamah Steel Industries - RSI
The current RSI of the stock is 68.73, shows strength of buyers. RSI line is also in a uptrend, which is very positive signal.
CONCLUSION -TADAWUL: 1304 : Al Yamamah Steel Industries STOCK PRICE FORECAST
Based on our stock trading advice in Saudi Arabia, Al Yamamah Steel Industries stock price target will be SAR 36.5 – SAR 37 in the next 12-14 trading sessions.
TADAWUL: 1304: Al Yamamah Steel Industries - TRADINGVIEW POSITION UPDATE
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⭐️ پريمي تداول النصيح
— Arijit, CMT (USA), CFTe (USA) | Naranj Capital (@NaranjCapital) June 7, 2023
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💰 ربح تداول متوقع 8-9% في 12 يوم.
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