Buy Yanbu National Petrochemical | Tadawul 2290 | Naranj Capital

 BUY   Yanbu National Petrochemical (TADAWUL: 2290)

Yanbu National Petrochemical - STOCK RECOMMENDATION

IdeaBUY
Buy Range47.5 – 48.2
Target50 – 51
StopLoss*below 46
Duration10 – 12 Trading Days
Potential Returns5 – 7%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 47.5 – 48.2 50 – 51 below 46 10 – 12 Trading Days 5 – 7%

* Once the first target hit, reset the StopLoss at your buying price.

Yanbu National Petrochemical - STOCK OVERVIEW

Yanbu National Petrochemical is the one of the largest integrated industrial complexes for the production of petrochemical materials in the Middle East using the latest technology in the production process. The company produces about four million tons of Ethylene, ethylene Glycol, polyethylene, high-density polyethylene, low-density linear polyethylene, polypropylene, butene 1, butene 2, M. T. B. That is, BTX. The headquarter is in Yanbu Industrial City, Saudi Arabia.

Stock Data
TADAWUL Code 2290
Sectoral Index Materials
52 Weeks High 53.6
52 Weeks Low 38.85

Yanbu National Petrochemical - RELATIVE STRENGTH

Relative Performance - Last 1 Year

Yanbu National Petrochemical —     TASI —

Yanbu National Petrochemical - TECHNICAL ANALYSIS (WEEKLY)

Arab Sea Information - 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.

Yanbu National Petrochemical - TECHNICAL ANALYSIS (DAILY)

Arab Sea Information - 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 - Yanbu National Petrochemical STOCK PRICE FORECAST

Based on our swing stock trading advice in Saudi Arabia, Yanbu National Petrochemical
share price target will be 50 – 51 in the next 10-12 trading sessions.

Yanbu National Petrochemical - TRADINGVIEW POSITION UPDATE

اشتر بحر العرب by NaranjCapital on TradingView.com

Follow Yanbu National Petrochemical 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.

Enjoy this recommendation?
Share with your friends

Your return could be more

PROFITABLE!

access our premium recommendations

for Saudi Arabia Stock Market Tadawul

Leverage our knowledge to trade with confidence. Expert Advice for short to medium term trading with specific target and strict stoploss.

Pricing

Pricing (in SAR)

Email Newsletter

Get Free Saudi Stock Trading Advice

We respect your privacy.

You cannot copy content of this page