Saudi Armaco Base Oil - STOCK RECOMMENDATION
| Idea | BUY |
| Buy Range | 145 – 149 |
| Target | 162 – 165 |
| StopLoss* | below 139 |
| Duration | 18 – 20 Trading Days |
| Potential Returns | 12 – 14% |
| Idea | Buy Range | Target | StopLoss* | Duration | Potential Returns |
| BUY | 145 – 149 | 162 – 165 | below 139 | 18 – 20 Trading Days | 12 – 14% |
* Once the first target hit, reset the StopLoss at your buying price.
Saudi Armaco Base Oil - STOCK OVERVIEW
Saudi Aramco Base Oil Company is engaged to construct, own and operate refineries of lubricating oils and to purchase, sell, transport, market, import and export lubricating oils, additives, lubricating oil blending stocks, by-products and other related petroleum products in Jeddah and Yanbu region of Saudi Arabia and in Hamriyah in the United Arab Emirates. The Company produces produce 1.3 million metric tons per annum of base oils. The headquarter of this company is in Jeddah, Saudi Arabia.
| Stock Data | |
| TADAWUL Code | 2223 |
| Sectoral Index | Materials |
| 52 Weeks High | 152.2 |
| 52 Weeks Low | 92.5 |
Saudi Armaco Base Oil - RELATIVE STRENGTH
Relative Performance - Last 1 Year
Saudi Armaco Base Oil — TASI —
Saudi Armaco Base Oil - TECHNICAL ANALYSIS (WEEKLY)
- Looking at the Tata Motors historical share price, the stock had seen a spectacular rally from the bottom of around 11.5 (May 2001) and hit a fresh high of about 199.5 (May 2006).
- Share price of Tata Motors has slipped into sharp decline afterwards, had broken all the support during the 2008 financial crisis and moved near 25.
- The stock was recovered afterwards sharply and witnessed a strong rally during 2009-2015, rallying from ₹25 to lifetime high of ₹612.4. A whopping 2350% gain in just seven years.
- Since it’s lifetime high of ₹612.4 registered during February 2015, TATAMOTORS share price has been in a declining trend.
- After a consistent downtrend in the last five years, the stock price had taken the support on the Ultimate baseline, which corresponds to earlier lows, thereby making it strong support.
- As seen in the Tata Motors share price history, the primary trend is positive since 2001. There is a steady support baseline which is moving upwards along with price rise.
- Overall Tata Motors trend and the broader pattern are bullish, and recent closing above the Primary Trend had given us the opportunity to enter the stock (Inset view).
- Tata Motors share target will be double or more in the next two years.
Saudi Armaco Base Oil - TECHNICAL ANALYSIS (DAILY)
- As seen in the Tata Motors chart analysis, the OBV is trading above the 15 days MA of it’s on balance volume. Buying pressure is visible as the positive volume exceeds negative volume, and the OBV line rising upwards.
- The OBV measures the volume change with price to identify the smart money are buying and selling the positions in the stock. This suggests you should invest in Tata Motors at dips and build long positions with institutional investors.
CONCLUSION -Saudi Armaco Base Oil STOCK PRICE FORECAST
Based on our swing stock trading advice in Saudi Arabia, Saudi Armaco Base Oil share price target will be 162 – 165 in the next 18 – 20 trading sessions.
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