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 BUY   Saudi Pharmaceutical Industry & Medical Appliances (TADAWUL: 2070)

Tadawul 2070 : Saudi Pharmaceutical Industry & Medical Appliances - STOCK RECOMMENDATION

Idea BUY
Buy Range 35 – 36
Target 38 – 39
StopLoss* below 33.9
Duration 10-12 Trading Days
Potential Returns 8 – 11%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 35 – 36 38 – 39 below 33.9 10-12 Trading Days 8 – 11%

* 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 2070 : Saudi Pharmaceutical Industry & Medical Appliances - STOCK OVERVIEW

Saudi Pharmaceutical Industries and Medical Appliances Corp. was established in January 1986 with the main objective of setting up an advanced pharmaceutical industry in the Kingdom of Saudi Arabia, for the local production of pharmaceutical products and medical appliances and to market these products inside the Kingdom and abroad.

Stock Data
TADAWUL Code 2070
Sectoral Index Pharma, Biotech & Lifescience
52 Weeks High 45.25
52 Weeks Low 21.36

Tadawul 2070 : Saudi Pharmaceutical Industry & Medical Appliances - RELATIVE STRENGTH

TADAWUL 2070-SAUDI PHARMACEUTICAL INDUSTRIES AND MEDICAL APPLIANCES CORP-RELATIVE STRENGTH

Relative Performance - Last 1 Year

Saudi Pharmaceutical Industry & Medical Appliances —     TASI —

Tadawul 2070 : Saudi Pharmaceutical Industry & Medical Appliances - TECHNICAL ANALYSIS (DAILY)

TADAWUL 2070-SAUDI PHARMACEUTICAL INDUSTRIES AND MEDICAL APPLIANCES CORP-DAILY TECHNICAL ANALYSIS
Tadawul 2070 - Saudi Pharmaceutical Industry & Medical Appliances - Technical Analysis (Daily)
  • Price had gone through a downfall from July’23 to Oct’23.
  • With a Morning Star candlestick pattern, price indicated that the trend was going to change.
  • With a Double Bottom chart pattern formation, price confirmed of trend reversal.
  • After the breakout of Double Bottom formation, price moved very sharply and reach at 39 level.
  • From that level, price took a rejection and consolidated for a while.
  • Instead of moving upside, price broke down the below range and made a correction.
  • Price got reversed from the teendline support by forming a Bullish Harami candlestick pattern.
  • With a positive volume increament, price is moving upside.

Tadawul 2070 : Saudi Pharmaceutical Industry & Medical Appliances - MA CROSS

Tadawul 2070 - Saudi Pharmaceutical Industry & Medical Appliances - MA CROSS
  • Currently the price closes above the 10 & 20 SMA, signals positive sentiment for which the buyers can be benefited.

Tadawul 2070 : Saudi Pharmaceutical Industry & Medical Appliances - MACD

Tadawul 2070 - Saudi Pharmaceutical Industry & Medical Appliances - MACD
  • MACD line is about to cross the signal line, which can be considered as a positive signal.

Tadawul 2070 : Saudi Pharmaceutical Industry & Medical Appliances - STOCHASTIC

Tadawul 2070 - Saudi Pharmaceutical Industry & Medical Appliances - Stochastic
  • There is a breakout occurred at Stochastic graph which also testifies that price might be going upside.

CONCLUSION - Tadawul 2070 : Saudi Pharmaceutical Industry & Medical Appliances STOCK PRICE FORECAST

Based on our Saudi stocks trading signals, Saudi Pharmaceutical Industry & Medical Appliances stock price target will be SAR 38 – SAR 39 in the next 10-12 trading sessions.

Tadawul 2070: Saudi Pharmaceutical Industry & Medical Appliances - TRADINGVIEW POSITION UPDATE

Follow Tadawul 2070: Saudi Pharmaceutical Industry & Medical Appliances 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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