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Saudi Prime Trading Advice (A) | 11-Nov-2024 | Expected Gain 5%-6%

SHORT TERM TRADING ADVICE IN SAUDI ARABIA

 BUY   Riyadh Cables (TADAWUL: 4142)

Tadawul 4142 : Riyadh Cables - STOCK RECOMMENDATION

Idea BUY
Buy Range 115 – 118
Target 123.5 – 125
StopLoss* below 111
Duration 10-12 Trading Days
Potential Returns 5% – 6%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 115 – 118 123.5 – 125 below 111 10-12 Trading Days 5% – 6%

* 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.

 Tradingview position update

Tadawul 4142 : Riyadh Cables - STOCK OVERVIEW

Riyadh Cables Group Co. specializes in the manufacturing, promotion, and distribution of various types of cables. The company is divided into several segments: Cables and Wires, High Voltage Cables, and Other. The Cables and Wires segment focuses on electrical cables, while the High Voltage Cables segment is dedicated to completed projects. Additionally, the Other segment provides telephone cables and related services. Established on January 18, 1984, the company is based in Riyadh, Saudi Arabia.

Stock Data
TADAWUL Code 4142
Sectoral Index Capital Goods
52 Weeks High 122
52 Weeks Low 70.7

Tadawul 4142 : Riyadh Cables - RELATIVE STRENGTH

TADAWUL 4142 - RIYADH CABLES - RELATIVE STRENGTH

Relative Performance - Last 1 Year

Riyadh Cables —     TASI —

Tadawul 4142 : Riyadh Cables - TECHNICAL ANALYSIS (DAILY)

TADAWUL 4142 - RIYADH CABLES - DAILY TECHNICAL ANALYSIS
Tadawul 4142 : Riyadh Cables - Technical Analysis (Daily)
  • The stock price had been fluctuating within a tight range.
  • However, after a significant breakout supported by strong trading volume, it has now reached its highest peak ever.
  • As long as the price remains above the 115 level, the overall sentiment is expected to stay optimistic.

Tadawul 4142 : Riyadh Cables - RSI

Tadawul 4142 : Riyadh Cables - RSI
  • Current RSI of this stock is 67.76, which indicates the strength of buyers.

Tadawul 4142 : Riyadh Cables - MACD

TADAWUL 4142 - RIYADH CABLES - MACD
Tadawul 4142 : Riyadh Cables - MACD
  • MACD line has just crossed the signal line from the below, generates bullish signal.

Tadawul 4142 : Riyadh Cables - ADX & DI

TADAWUL 4142 - RIYADH CABLES - ADX & DI
Tadawul 4142 : Riyadh Cables - 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 4142 : Riyadh Cables STOCK PRICE FORECAST

Based on our stock trading advice in Saudi Arabia, Riyadh Cables stock price target will be SAR 123.5 – SAR 125 in the next 10-12 trading sessions.

Tadawul 4142 : Riyadh Cables - TRADINGVIEW POSITION UPDATE

ุงุดุชุฑ ูƒุงุจู„ุงุช ุงู„ุฑูŠุงุถ by NaranjCapital on TradingView.com

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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Pricing (in SAR)

  • 15 advice         SAR 1500               --             SAR 1500
  • 45 advice         SAR 4500        20% OFF       SAR 3600
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     35% OFF 
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     50% OFF 
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