BUY Al-Babtain Power and Telecommunication (TADAWUL: 2320)
Tadawul 2320 : Al-Babtain Power and Telecommunication - STOCK RECOMMENDATION
| Idea | BUY |
| Buy Range | 40 – 41.5 |
| Target | 45 – 46 |
| StopLoss* | below 37.5 |
| Duration | 14-15 Trading Days |
| Potential Returns | 9% – 11% |
| Idea | Buy Range | Target | StopLoss* | Duration | Potential Returns |
| BUY | 40 – 41.5 | 45 – 46 | below 37.5 | 14-15 Trading Days | 9% – 11% |
* Once the first target hit, reset the StopLoss at your buying price.
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Tadawul 2320 : Al-Babtain Power and Telecommunication - STOCK OVERVIEW
Founded in 1955, Al-Babtain Power and Telecommunications Company, based in Riyadh, Saudi Arabia, produces lighting poles, power transmission towers, and accessories in the UAE, Saudi Arabia, and the Egyptian Arab Republic. The company operates in various sectors, including Towers and Metal Structures, Poles and Lighting, Design, Supply, and Installation, and Solar Energy. It produces power transmission towers, galvanized communication towers, street lighting lanterns, electricity distribution panels, and mobile metal components for solar photovoltaic energy tracking systems. The company also designs and produces poles, masts, and lanterns for lighting, manufactures decorative poles and LED lighting, and installs and maintains communication systems. It also provides wind energy networks, electrical and mechanical works, and oil and gas field services.
| Stock Data | |
| TADAWUL Code | 2320 |
| Sectoral Index | Capital Goods |
| 52 Weeks High | XXX |
| 52 Weeks Low | XXX |
Tadawul 2320 : Al-Babtain Power and Telecommunication - RELATIVE STRENGTH
Relative Performance - Last 1 Year
Al-Babtain Power and Telecommunication — TASI —
Tadawul 2320 : Al-Babtain Power and Telecommunication - TECHNICAL ANALYSIS (DAILY)
- The price previously exhibited a Rounding Top pattern and spent some time consolidating within it.
- Typically, when this pattern appears, a notable decline in price is expected.
- However, instead of dropping, the stock price showed a reversal by creating a Double Bottom pattern.
- After a gap up opening, the price surged upward, resulting in a significant rally.
- As it approached the 49 level, the price encountered substantial resistance, leading to a sharp correction followed by a consolidation phase.
- During this period, a Bullish Pennant pattern emerged, and with a strong breakout backed by impressive trading volume, the price is now poised for another upward movement.
Tadawul 2320 : Al-Babtain Power and Telecommunication - RSI
- Current RSI of this stock is 65.18, which indicates the strength of buyers.
Tadawul 2320 : Al-Babtain Power and Telecommunication - MACD
- MACD line has just crossed the signal line from the below, generates bullish signal.
Tadawul 2320 : Al-Babtain Power and Telecommunication - EMA Cross
- The short length exponential moving average (10 EMA) has just crossed the long length exponential moving average (20 EMA) from the below, generates bullish signal. Last dayโs candle has closed above all these moving averages. This suggests buyers are taking interest in this stock.
CONCLUSION - Tadawul 2320 : Al-Babtain Power and Telecommunication STOCK PRICE FORECAST
Based on our stock trading advice in Saudi Arabia, Al-Babtain Power and Telecommunication stock price target will be SAR 45 – SAR 46 in the next 14-15 trading sessions.
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