Tadawul 4261 : Theeb Rent a Car vs TASI - Relative Strength Comparison

Tadawul 4261 : Theeb Rent a Car - Technical Analysis (Daily)

• The price had earlier established a Double Top pattern, which was followed by a significant decline after the pattern broke down.
• Eventually, it discovered support around the 58 level and created a Double Bottom pattern, accompanied by a brief consolidation phase.
• After a breakout, the stock price soared but encountered a robust rejection near the 74 level.
• As a result, the price retreated back to its support level.
• However, with a rebound, the stock price recently overcame its trendline resistance.
• If it can maintain its position above this breakout point, we may anticipate further upward movement.

Tadawul 4261 : Theeb Rent a Car - RSI Indicator

• Current RSI of this stock is 66.78, which indicates the strength of buyers.

Tadawul 4261 : Theeb Rent a Car - MACD 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 4261 : Theeb Rent a Car - EMA Crossover

• The short length exponential moving average (10 EMA) has crossed the long length exponential moving average (20 EMA) 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.

Conclusion - Tadawul 4261 : Theeb Rent a Car Stock Price Forecast

Our analysis suggests Theeb Rent a Car could reach SAR 78 - SAR 78.5 within the next 12 to 14 trading sessions, providing a chance to profit by trading KSA stocks.