Prime Trading Advice (A) | Expected Gain 5-6% | Naranj Capital

 BUY   Naseej International Trading (TADAWUL: 1213)

Tadawul 1213 : Naseej International Trading - STOCK RECOMMENDATION

Idea BUY
Buy Range 76 – 77
Target 81 – 82
StopLoss* below 73.8
Duration 10-12 Trading Days
Potential Returns 5 – 6%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 76 – 77 81 – 82 below 73.8 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 and Social Media. Be assured such records are permanent and irreversible.

Tadawul 1213 : Naseej International Trading - STOCK OVERVIEW

Naseej International Trading company’s primary focus lies in the manufacturing, wholesale, and retail of various goods including carpets, rugs, floors, furniture, antiques, wooden and metal blinds, office furniture, kitchens, blankets, bedspreads, curtain fabrics, accessories, and artificial turf. To streamline its operations, the company is divided into three main activities: Industrial activity, Commercial activity, and Investment activity. The Industrial activity involves the production of various products, while the Commercial activity encompasses the wholesale and retail aspects of the company’s product offerings. Lastly, the Investment activity is responsible for engaging in investment activities. The company effectively distributes and sells its wide range of products both within the local market and beyond.

Stock Data
TADAWUL Code 1213
Sectoral Index Consumer Durables & Apparel
52 Weeks High 79
52 Weeks Low 37.55

Tadawul 1213 : Naseej International Trading - RELATIVE STRENGTH

Tadawul 1213-Naseej International Trading-Relative Strength

Relative Performance - Last 1 Year

Naseej International Trading —     TASI —

Tadawul 1213 : Naseej International Trading - TECHNICAL ANALYSIS (DAILY)

Tadawul 1213-Naseej International Trading-Daily Technical Analysis
Tadawul 1213 - Naseej International Trading - Technical Analysis (Daily)
  • previously the price was moving through a parallel channel downwards.

  • After the breakout, price reached at 48 level but couldn’t manage to sustain above the level and sharp correction has been seen in the price.

  • From around 37 level, price bounced back with a strength that can easily be observed by the volume chart also.

  • Then the price broke out the resistance level and started making Higher Highs and Lows.

  • An interesting price action pattern can be observed at the chart. Every time after breakout, price came back for retest it’s previous breakout level.

  • With a descent volume, price recently broke out it’s immediate resistance level after a short consolidation.

  • It seems that the price is in a mood to make new highs.

Tadawul 1213 : Naseej International Trading - ADX & DI

Tadawul 1213-Naseej International Trading-ADX & DI
Tadawul 1213 - Naseej International Trading - 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 1213 : Naseej International Trading - MA Cross

Tadawul 1213-Naseej International Trading-ADX & DI
Tadawul 1213 - Naseej International Trading - MA Cross

The short length moving average (10 SMA) has crossed the long length moving average (20 SMA) from the below, generates bullish signal. Last day’s candle has closed above all these moving averages. This suggests buyers are taking interest in this stock.

Tadawul 1213 : Naseej International Trading - RSI

Tadawul 1213-Naseej International Trading-ADX & DI
Tadawul 1213 - Naseej International Trading - RSI

Current RSI of this stock is 71.41, which indicates the strength of buyers.

CONCLUSION - Tadawul 1213 : Naseej International Trading STOCK PRICE FORECAST

Based on our stock trading advice in Saudi Arabia, Naseej International Trading stock price target will be SAR 81 – SAR 82 in the next 10-12 trading sessions.

Tadawul 1213 : Naseej International Trading - TRADINGVIEW POSITION UPDATE

Follow Tadawul 1213 : Naseej International Trading 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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