Elm Company - STOCK RECOMMENDATION
| Idea | BUY |
| Buy Range | 900 – 920 |
| Target | 1000 – 1020 |
| StopLoss* | below 850 |
| Duration | 12 – 14 Trading Days |
| Potential Returns | 11 – 13% |
| Idea | Buy Range | Target | StopLoss* | Duration | Potential Returns |
| BUY | 900 – 920 | 1000 – 1020 | below 850 | 12 – 14 Trading Days | 11 – 13% |
* Once the first target hit, reset the StopLoss at your buying price.
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Elm Company - STOCK OVERVIEW
As per the company’s Bylaws, the company engages in various activities, including but not limited to: rendering telecommunications, IT, information security, e-business, and credit information sharing services; facilitating electronic connectivity between the public and private sectors; managing, equipping, operating, and maintaining data and information centers, electronic hardware and mechanisms, information systems, and communication networks; offering training and workforce development to enhance the management, operation, and growth of public and private enterprises in ICT and other domains; providing technology development, marketing, and investment services; overseeing technical project management and implementation; making investments in technology companies and projects both domestically and internationally; and attracting local and foreign investments to partake in the company’s activities.
| Stock Data | |
| TADAWUL Code | 7203 |
| Sectoral Index | Software & Services |
| 52 Weeks High | 948 |
| 52 Weeks Low | 328.6 |
Elm Company - RELATIVE STRENGTH
Relative Performance - Last 1 Year
Elm Company — TASI —
Elm Company - TECHNICAL ANALYSIS (DAILY)
- Looking at the Elm Co.’s historical stock price, the stock had seen to be consolidating in a sideways direction from the September, 2022- January, 2023 and formed an ‘Inverse Head & Shoulder’ pattern on the daily chart.
- The stock has seen to be moving upward in a consolidated channel pattern from January, 2023- July, 2023.
- The stock is showing bullish pennant pattern after an uptrend and indicates a potential continuation of the upward movement. Afterwards this stock has given breakout from ascending triangle pattern with incremental volumes. Pattern breakout one after another signifies extreme bullish momentum.
- As seen in the Elm company chart analysis, the stock has formed rounding button which is identified by a series of price movements that graphically form the shape of a “U”.
- A stock usually goes down during the initial part of the Rounding Bottom due to more supply compared to demand. Once buyers enter the market at a lower price, it increases demand for the stock, and the uptrend gets started. Once the Rounding Bottom is completed, the stock breaks out and continues in its new upward trend.
- Increasing ADX values above 20, indicates continuation of trend strength, thereby uptrending ADX confirms the bullish or bearish supporting decision. Along with the rising ADX, and the +DI is above (or crossing) -DI indicating the long trades should be favored.
- The current stock price moves above it’s 9days and 21 days moving average. This often suggests that the stock’s momentum is starting to move upward, indicating a potential buying opportunity.
- As seen in the ELM chart analysis, OBV line is moving in the same upward direction which means there is a positive sentiment in the market. Also the significant price up move accompanying with increasing OBV volume suggests strong buying pressure.
CONCLUSION - Elm Company STOCK PRICE FORECAST
Based on our short term stock trading advice in Saudi Arabia, Elm Company share price target will be SAR 1000 – SAR 1020 in the next 12-14 trading sessions.
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💡 توصية تداول قصير المدى
— Naranj Capital نارانج كابيتال (@NaranjCapital) January 15, 2024
اشتر شركة علم #تداول : 7203
● نطاق الشراء- 900 - 920
● هدف البيع- 1000 - 1020
● وقف الخسارة- أقل من 850
● العائد المحتمل- 11 - 13%
🗓 فترة الاحتفاظ بالتجارة التقريبية- 12-14 يوم#الأسهم_السعودي #جدة #نصائح_تجارية #الاسهم_السعودية #الرياض… pic.twitter.com/fisrRYL4nQ
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