Tadawul 2370 : Middle East Specialized Cables - STOCK RECOMMENDATION
| Idea | BUY |
| Buy Range | 22.8 – 23.3 |
| Target | 24.8 – 25.2 |
| StopLoss* | below 22 |
| Duration | 12-14 Trading Days |
| Potential Returns | 9 – 10% |
| Idea | Buy Range | Target | StopLoss* | Duration | Potential Returns |
| BUY | 22.8 – 23.3 | 24.8 – 25.2 | below 22 | 12-14 Trading Days | 9 – 10% |
* Once the first target hit, reset the StopLoss at your buying price.
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Tadawul 2370 : Middle East Specialized Cables - STOCK OVERVIEW
Middle East Specialized Cables is a leading company in the cable manufacturing industry. Headquartered in Riyadh, they specialize in production and sale of high-quality cables for various applications. With an impressive range of products from flexible electric, coaxial, rubber and nylon coated wires and cables, telephone cables for internal extensions, computer cables, safety to, anti-fire wires and cables and control and transmission of information cables, they have established a strong presence in the market. Their commitment to quality and innovation has positioned them as a trusted provider of reliable and efficient cable solutions. Middle East Specialized Cables has managed to maintain a solid reputation in Saudi Arabia and UAE.
| Stock Data | |
| TADAWUL Code | 2370 |
| Sectoral Index | Capital Goods |
| 52 Weeks High | 23.72 |
| 52 Weeks Low | 9.58 |
Tadawul 2370 : Middle East Specialized Cables - RELATIVE STRENGTH
Relative Performance - Last 1 Year
Middle East Specialized Cables — TASI —
Tadawul 2370 : Middle East Specialized Cables - TECHNICAL ANALYSIS (DAILY)
Looking at the price chart we can see that the price took a rejection from around 19.5 level and from there a correction can be seen, which has brought the price down to the 14.5 level.
After that price gave a sharp rally and broke its previous resistance and moved further to reach 23 level which was also its 52-week High.
But from there price moved downwards and made a correction which can be considered healthy for the stock.
Then price took support exactly from previous resistance which is also a trendline support level and bounced back from there.
An amazing Bullish Pole and Flag chart pattern can be observed which is indicating that the price is getting ready for the upmove.
Now with a fresh breakout, supported by the volume price is trading at 52-week High. More upside move possible if the price can manage to sustain above the level.
Tadawul 2370 : Middle East Specialized Cables - RELATIVE STRENGTH INDEX
- With an up trending RSI of value 71.10, buyers are showing their strength.
Tadawul 2370 : Middle East Specialized Cables - Moving Average Crossover
The short length moving average (10 SMA) has just crossed the long length moving average (20 SMA) from the below, generates a bullish signal.
CONCLUSION - Tadawul 2370 : Middle East Specialized Cables STOCK PRICE FORECAST
Based on our trading tips for Saudi Tadawul stocks, Tadawul 2370: Middle East Specialized Cablesย stock price target will be SAR 24.8 – SAR 25.2 in the next 12-14 trading sessions.
Tadawul 2370 : Middle East Specialized Cables - TRADINGVIEW POSITION UPDATE
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๐ ูุตูุญุฉ ุงูุฃุณูู ุงูู ู ูุฒุฉ
— Naranj Capital ูุงุฑุงูุฌ ูุงุจูุชุงู (@NaranjCapital) February 19, 2024
๐ ุงูุชุญููู ุงูููู:
ุจุงููุธุฑ ุฅูู ุงูุฑุณู ุงูุจูุงูู ููุณุนุฑุ ูู ูููุง ุฃู ูุฑู ุฃู ุงูุณุนุฑ ุชููู ุฑูุถูุง ู ู ู ุณุชูู 19.5 ุชูุฑูุจูุง ูู ู ููุงู ูู ูู ุฑุคูุฉ ุงูุชุตุญูุญุ ู ู ุง ุฃุฏู ุฅูู ุงูุฎูุงุถ ุงูุณุนุฑ ุฅูู ู ุณุชูู 14.5.
ุจุนุฏ ุฐููุ ุญูู ุงูุณุนุฑ ุงุฑุชูุงุนูุง ุญุงุฏูุงุ ููุณุฑ ู ุณุชูู ุงูู ูุงูู ุฉ ุงูุณุงุจูุ ูุชุญุฑู ุฃูุซุฑ ููุตูโฆ pic.twitter.com/1dLmoXjks3
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