Tadawul 4050 : Saudi Automobile Services - STOCK RECOMMENDATION
| Idea | BUY |
| Buy Range | 60 – 62 |
| Target | 66 – 67 |
| StopLoss* | below 57 |
| Duration | 12-14 Trading Days |
| Potential Returns | 6% – 8% |
| Idea | Buy Range | Target | StopLoss* | Duration | Potential Returns |
| BUY | 60 – 62 | 66 – 67 | below 57 | 12-14 Trading Days | 6% – 8% |
* Once the first target hit, reset the StopLoss at your buying price.
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Tadawul 4050 : Saudi Automobile Services - STOCK OVERVIEW
Saudi Automotive Services Company, established in 1982, operates a network of vehicle service stations across Saudi Arabia. It provides car maintenance, repair services, manages an automobile club for international driving licenses, and offers fuel and water transportation. The company also deals in land and real estate, issues custom traffic documents, and operates rest houses, motels, and restaurants. It also imports and sells food, drinks, raw materials, and beverages. It manages motorsports, organizes races, and sets up workshops for repairs. The company also manages hotels, offers property management services, and takes on contracts for building, managing, leasing, and operating residential and commercial properties.
| Stock Data | |
| TADAWUL Code | 4050 |
| Sectoral Index | Consumer Discretionary Distribution & Retail |
| 52 Weeks High | 84.17 |
| 52 Weeks Low | 42.51 |
Tadawul 4050 : Saudi Automobile Services - RELATIVE STRENGTH
Relative Performance - Last 1 Year
Saudi Automobile Services — TASI —
Tadawul 4050 : Saudi Automobile Services - TECHNICAL ANALYSIS (DAILY)
- The stock price encountered resistance several times around the 58-59 levels before experiencing a brief decline.
- However, it managed to bounce back and break out successfully with strong volume support.
- Subsequently, the price embarked on an upward trajectory following a short consolidation period.
- After reaching an all-time high near the 84 level, the stock price experienced a steep decline.
- A Head & Shoulder pattern emerged on the chart, suggesting a bearish sentiment.
- Once the neckline of the Head & Shoulders pattern was breached, the stock underwent further correction.
- Finding support around the 48 level, the price began to climb upwards. Interestingly, an Inverted Head & Shoulders pattern emerged during this phase, hinting at a potential trend reversal.
- A recent breakout, accompanied by an increase in trading volume, indicates that the price is poised to move higher.
Tadawul 4050 : Saudi Automobile Services - TECHNICAL INDICATORS
RSIÂ
A distinct RSI divergence is evident, signaling a bullish sentiment in the market. Additionally, with the RSI positioned above 60, it underscores the robust strength of the buyers.
MACD
The MACD line’s recent crossover with the Signal line from below, coupled with its rise above the zero level, signals a bullish trend ahead.
CONCLUSION - Tadawul 4050 : Saudi Automobile Services STOCK PRICE FORECAST
Based on our stock trading advice in Saudi Arabia, Saudi Automobile Services stock price target will be SAR 66 – SAR 67 in the next 12-14 trading sessions.
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