Tadawul trade advice (A): Saudi banking stock | 5-6% gain | KSA stock trading signal on 2 Sep 2024

Date
September 2, 2024
Analysed By
Naranj Capital Research Desk
Stock Market
Tadawul, Saudi Arabia

Stoploss reached. Trade closed.

20 days
2 Oct 2024
2 Sep 2024
Loss per
100,000 SAR
20 days
-2,286
Stop-loss
2 Oct 2024
17.1
Buy Advice
2 Sep 2024
17.5 – 17.8
Target 1
18.6
Target 2
18.8
Profit per
100,000 SAR
-2,286
17.1
17.5 – 17.8
18.6
18.8
20 days
2 Oct 2024
2 Sep 2024
Loss per
100,000 SAR
20 days
-2,286
Stop-loss
2 Oct 2024
17.1
Buy Advice
2 Sep 2024
17.5 – 17.8
Target 1
18.6
Target 2
18.8
Profit per
100,000 SAR
-2,286
17.1
17.5 – 17.8
18.6
18.8
  • Buy
  • Buy
    Range
  • Target
  • Stoploss
  • Upside
    Potential
  • Trade
    Duration
  • Bank Aljazira
  • 17.5 – 17.8
  • 18.6 – 18.8
  • Below 17.1
  • 5% – 6%
  • 12 - 14 Days
  • Buy Bank Aljazira
  • Buy
    Range
    17.5 – 17.8
  • Target 18.6 – 18.8
  • Stoploss Below 17.1
  • Upside
    Potential
    5% – 6%
  • Trade
    Duration
    12 - 14 Days
  • Buy
  • Buy
    Range
  • Target
  • Stoploss
  • Upside
    Potential
  • Trade
    Duration
  • Bank Aljazira
  • 17.5 – 17.8
  • 18.6 – 18.8
  • Below 17.1
  • 5% – 6%
  • 12 - 14 Days
  • Buy
    Bank Aljazira
  • Buy
    Range
    17.5 – 17.8
  • Target
    18.6 – 18.8
  • Stoploss
    Below 17.1
  • Upside
    Potential
    5% – 6%
  • Trade
    Duration
    12 - 14 Days
  • * Once the first target hit, reset the StopLoss at your buying price.
    * Trade durations are approximate; actual holding period may vary.

    Tadawul 1020 : Bank Aljazira - Stock Overview

  • Tadawul code
  • Stock Name
  • Sector
  • 52 Weeks High
  • 52 Weeks Low
  • 1020
  • Bank Aljazira
  • Banks
  • 18.24
  • 12.26
  • Tadawul code 1020
  • Stock Name Bank Aljazira
  • Sector Banks
  • 52 Weeks High 18.24
  • 52 Weeks Low 12.26
  • Company profile

    Bank Aljazira, headquartered in Jeddah, Saudi Arabia, specializes in offering Shariah compliant banking solutions and services. Its operations are divided into several segments, namely Personal Banking, Corporate Banking, Treasury, Brokerage and Asset Management, and Others. The Personal Banking segment caters to the financial needs of individuals, providing a range of deposit, credit, and investment products. The Corporate Banking segment focuses on financing, deposits, and other credit solutions for corporate, small to medium-sized businesses, and institutional customers. The Treasury segment offers a comprehensive suite of money market, foreign exchange, trading, and treasury services. The Brokerage and Asset Management segment specializes in providing services for shares brokerage and asset management. The Others segment engages in various activities, including investing in associates, eliminating inter-segment income and expenses, and benefiting from gains on the sale of other real estate.

  • Tadawul 1020 : Bank Aljazira vs TASI - Relative Strength Comparison

    The image compares Bank Aljazira's 1-year performance to TASI.
    Relative Performance - Last 1 Year
    BJAZ —   TASI —

  • Tadawul 1020 : Bank Aljazira - Technical Analysis (Daily)

    Bank Aljazira - Technical Analysis chart on Daily Price and Volume
    Bank Aljazira - Technical Analysis chart on Daily Price and Volume

    • Following a significant correction, the stock price has entered a prolonged consolidation phase.
    • During this period, an Inverted Head & Shoulders pattern emerged.
    • After nearly two years of this consolidation, the price broke out in August 2024.
    • Currently, the price is trading slightly above the breakout level, with expectations of an upward movement in the days ahead.
  • Tadawul 1020 : Bank Aljazira - RSI Indicator

    Bank Aljazira stock analysis based on RSI indicator
    Bank Aljazira - RSI indicator

    • Current RSI of this stock is 62.94, which indicates the strength of buyers.

  • Tadawul 1020 : Bank Aljazira - ADX & DI Indicator

    Bank Aljazira stock analysis based on ADX & DI indicator
    Bank Aljazira - ADX & DI indicator

    • 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.

  • Tadawul 1020 : Bank Aljazira - MACD Indicator

    Bank Aljazira stock analysis based on MACD indicator
    Bank Aljazira - MACD indicator

    • MACD line has just crossed the signal line from the below, generates bullish signal.

  • Conclusion - Tadawul 1020 : Bank Aljazira Stock Price Forecast

    Based on our Saudi stock market trading signals, Bank Aljazira stock price target will be SAR 18.6 - SAR 18.8 in the next 12-14 trading sessions.

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    Arijit Banerjee CMT CFTe is a seasoned expert in the financial industry, boasting decades of experience in trading, investment, and wealth management. As the founder and chief strategist of Naranj Capital, he’s built a reputation for providing insightful research analysis to guide investment decisions.

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