Prime Trading Advice (A) | Expected Gain 6-7% | Naranj Capital

 BUY   Al-Babtain Power & Telecommunication (TADAWUL: 2320)

Tadawul 2320 : Al-Babtain Power & Telecommunication - STOCK RECOMMENDATION

Idea BUY
Buy Range 34 – 35
Target 37 – 37.5
StopLoss* below 32.5
Duration 10-12 Trading Days
Potential Returns 6 – 7%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 34 – 35 37 – 37.5 below 32.5 10-12 Trading Days 6 – 7%

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

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

Tadawul 2320 : Al-Babtain Power & Telecommunication - STOCK OVERVIEW

Company Overview:-  AL-Babtain Power & Telecommunication Company ,headquartered in Riyadh, Saudi Arabia, manufactures steel structures such as electrical distribution and lighting poles, high masts, stadium masts, and monopoles. Additionally, the company operates plants for high voltage transmission and communication towers, steel structures. They also do tower testing, and galvanizing. Moreover, AL-Babtain Power & Telecommunication Company has expanded its operations to Egypt, enabling them to cater to the communication sector in the Middle East. With a diverse customer base, the company has established its presence globally.

Stock Data
TADAWUL Code 2320
Sectoral Index Capital Goods
52 Weeks High 35.1
52 Weeks Low 14.27

Tadawul 2320 : Al-Babtain Power & Telecommunication - RELATIVE STRENGTH

Tadawul 2320-Al Babtain Power & Telecommunication Co.-Relative Strength

Relative Performance - Last 1 Year

Al-Babtain Power & Telecommunication —     TASI —

Tadawul 2320 : Al-Babtain Power & Telecommunication - TECHNICAL ANALYSIS (DAILY)

Tadawul 2320-Al Babtain Power & Telecommunication Co.-Daily Technical Analysis
Tadawul 2320 : Al-Babtain Power & Telecommunication - Technical Analysis (Daily)
  • Previously, the price had been consolidating and made a Rounding Top pattern.
  • But instead of breaking down the neckline, price gave a sharp upmove from there and reached to 30 level.
  • A gap up scenario can be observed at the chart and the price managed to sustain the level after gap up. This activity shows the strength of buyers at that moment.
  • After that, price has consolidated in a Rectangle for a while.
  • Then successfully broke out the range upside and currently trading at All Time High.
  • Volume is also decent.
  • We might be witnessing the price to achieve the upper levels in coming days.

Tadawul 2320 : Al-Babtain Power & Telecommunication - RSI

Tadawul 2320-Al Babtain Power & Telecommunication Co.-RSI
Tadawul 2320 : Al-Babtain Power & Telecommunication - RSI
  • Current RSI of this stock is 61.37, which indicates the strength of buyers.

Tadawul 2320 : Al-Babtain Power & Telecommunication - ADX & DI

Tadawul 2320 : Al-Babtain Power & Telecommunication - 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.

Tadawul 2320 : Al-Babtain Power & Telecommunication - Bollinger Bands

Tadawul 2320-Al Babtain Power & Telecommunication Co.-Bollinger Bands
Tadawul 2320 : Al-Babtain Power & Telecommunication - Bollinger Bands
  • From Nov’23, price is continuously hugging the upper band and sometimes exceeded the upper band, which indicates the momentum is with the buyers.

CONCLUSION - Tadawul 2320 : Al-Babtain Power & Telecommunication STOCK PRICE FORECAST

Based on our stock trading advice in Saudi Arabia, Al-Babtain Power & Telecommunication stock price target will be SAR 37 – SAR 37.5 in the next 12-14 trading sessions.

Tadawul 2320 : Al-Babtain Power & Telecommunication - TRADINGVIEW POSITION UPDATE

Tadawul 2320 : Al-Babtain Power & Telecommunication 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.

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