Buy Elm Co | Tadawul 7203 | Naranj Capital

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

Tadawul 7203 | Elm Company- Relative strength

Relative Performance - Last 1 Year

Elm Company —     TASI —

Elm Company - TECHNICAL ANALYSIS (DAILY)

Tadawul 7203-Elm Company- Technical Analysis
Tadawul 7203 | 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.
Tadawul 7203 | Elm Company - +ADX, +DI, -DI (Daily)
Tadawul 7203 | Elm Company - +ADX, +DI, -DI (Daily)
  • 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.
Tadawul 7203 | Elm Company - Moving Average
Tadawul 7203 | Elm Company - Moving Average Crossover (9,21)
  • 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.
Tadawul 7203 | Elm Company - On Balance Volume (Daily)
Tadawul 7203 | Elm Company - On Balance Volume (Daily)
  • 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.

Elm Company - TRADINGVIEW POSITION UPDATE

اشتر شركة علم by NaranjCapital on TradingView.com

Follow Elm Company 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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