Buy Middle East Specialized Cables | Tadawul 2370 | Naranj Capital

 BUY   Middle East Specialized Cables (TADAWUL: 2370)

Middle East Specialized Cables - STOCK RECOMMENDATION

Idea BUY
Buy Range 16.65 – 17
Target 18.5 – 19
StopLoss* below 16
Duration 14 – 15 Trading Days
Potential Returns 12 – 14%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 16.65 – 17 18.5 – 19 below 16 14 – 15 Trading Days 12 – 14%

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

Middle East Specialized Cables - STOCK OVERVIEW

MESC is the leading manufacturer and supplier of all types of cables from several sectors, O&G, Petrochemical, Industrial, Commercial, Railway, Automotive, Military and Renewable Energy. This company manufactures and sales it’s products including flexible electric, coaxial, rubber and nylon coated wires and cables, telephone cables for internal extensions, computer cables, safety and anti-fire wires and cables and control and transmission of information cables in Saudi Arabia, Jordan, and United Arab Emirates. The headquarter of MESC is in Riyadh, Saudi Arabia.

Stock Data
TADAWUL Code 2370
Sectoral Index Capital Goods
52 Weeks High 17.4
52 Weeks Low 8.6

Middle East Specialized Cables - RELATIVE STRENGTH

Relative Performance_Middle East Specialized Cables vs TASI

Relative Performance - Last 1 Year

Middle East Specialized Cables —     TASI —

Middle East Specialized Cables - 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.

Middle East Specialized Cables - 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 - Middle East Specialized Cables STOCK PRICE FORECAST

Based on our swing stock trading advice in Saudi Arabia, Middle East Specialized Cables share price target will be 18.5 – 19 in the next 14-15 trading sessions.

Middle East Specialized Cables - TRADINGVIEW POSITION UPDATE

اشتر مسك by NaranjCapital on

Follow Middle East Specialized Cables TRADING ADVICE On Social Media


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.


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.


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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