Saudi Prime Trading Advice (A) | 01-Jul-2024 | Expected Gain 6-8%

 BUY   Astra Industrial Group (TADAWUL: 1212)

Tadawul 1212 : Astra Industrial Group - STOCK RECOMMENDATION

Idea BUY
Buy Range 160 – 165
Target 175 – 177
StopLoss* below 152
Duration 12-14 Trading Days
Potential Returns 6% – 8%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 160 – 165 175 – 177 below 152 12-14 Trading Days 6% – 8%

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

Our recommendations are authentic and transparent. Find this recommendation posted in Tradingview. Be assured such records are permanent and irreversible.

Tadawul 1212 : Astra Industrial Group - STOCK OVERVIEW

Astra Industrial Group is headquartered in Riyadh, Saudi Arabia. The company engages in the production, marketing and distribution of medicine and pharmaceutical products, polymer compounds, plastic additives, color concentrates and other plastic products, pre-engineered steel buildings and steel structures in Saudi Arabia and abroad. Astra Industries focuses on three areas of activities in energy sector; power generation, distribution and substations and power rental.

Astra Farms is engaged in production of fruits, vegetables, flowers, quails, poultry, dairy and processed food.

Astra Grains: primarily located in Jeddah and is engaged in the general trading of food commodities, such as nuts, pulses, spices, edible oils, coffee, rice and more.

Astra Commercial: serves the North Western part of Saudi Arabia. This branch is engaged in the retail and wholesale business of grocery items, bakery, gas station. Apart from these Astra Industries also engaged in the services of mining, financial services and investment, education & healthcare, real estate and hospitality, media and telecommunication.

The group subsidiaries conduct their businesses inside and outside Kingdom of Saudi Arabia.

Stock Data
TADAWUL Code 1212
Sectoral Index Capital Goods
52 Weeks High 193.8
52 Weeks Low 80

Tadawul 1212 : Astra Industrial Group - RELATIVE STRENGTH

Tadawul 1212-Astra Industrial Group-Relative Strength

Relative Performance - Last 1 Year

Astra Industrial Group —     TASI —

Tadawul 1212 : Astra Industrial Group - TECHNICAL ANALYSIS (DAILY)

Tadawul 1212-Astra Industrial Group-Daily Technical Analysis
Tadawul 1212 : Astra Industrial Group - Technical Analysis (Daily)
  • Before, the price was trading within a box pattern.
  • With a powerful breakout and, the price rose and began creating higher highs and lows.
  • After hitting a record high, the price experienced a notable correction and dropped close to the 137 level.
  • With rising volume, the price resumed its upward movement.

Tadawul 1212 : Astra Industrial Group - RSI

Tadawul 1212-Astra Industrial Group-RSI
Tadawul 1212 : Astra Industrial Group - RSI
  • Current RSI of this stock is 62.57, which indicates the strength of buyers.

Tadawul 1212 : Astra Industrial Group - MACD

Tadawul 1212 : Astra Industrial Group - MACD
  • MACD line has crossed the signal line from the below, generates bullish signal.

Tadawul 1212 : Astra Industrial Group - ADX & DI

Tadawul 1212-Astra Industrial Group-ADX & DI
Tadawul 1212 : Astra Industrial Group - ADX & DI
  • Increasing ADX value above 20, indicated the strength of the trend, thereby uptrending ADX confirms the bullish or bearish supportive decisions. Along with the rising ADX, and the +DI is above (or crossing) -DI, indicates the long trades should be favoured.

CONCLUSION - Tadawul 1212 : Astra Industrial Group STOCK PRICE FORECAST

Based on our stock trading advice in Saudi Arabia, Astra Industrial Group stock price target will be SAR 175 – SAR 177 in the next 12-14 trading sessions.

MONEY MANAGEMENT AND TRADING RULES

1)ย  Itโ€™s advisable to enter/exit in the recommended range.
2)ย  Strictly follow the StopLoss as mentioned. Honour it.
3) ย Use trailing StopLoss to retain profits.
4)ย  Diversify trading capital into our other trading recommendations.
5)ย  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 ofย 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 aย Certified Financial Technician (CFTe)ย 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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