Tadawul 4142 : Riyadh Cables Group vs TASI - Relative Strength Comparison

Tadawul 4142 : Riyadh Cables Group - Technical Analysis (Daily)

• The stock price has experienced a significant surge after breaking out of the Ascending Triangle pattern.
• After reaching an all-time high, the price underwent a correction and then entered a short period of consolidation within a box pattern.
• Recently, with a rise in trading volume, the price has successfully surpassed its trendline resistance and is moving towards new heights.

Tadawul 4142 : Riyadh Cables Group - RSI Indicator

• Current RSI of this stock is 62.03, which indicates the strength of buyers.

Tadawul 4142 : Riyadh Cables Group - MACD Indicator

• MACD line has just crossed the signal line from the below, generates bullish signal.

Tadawul 4142 : Riyadh Cables Group - EMA Crossover

• 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 day’s candle has closed above all these moving averages. This suggests buyers are taking interest in this stock.

Conclusion - Tadawul 4142 : Riyadh Cables Group Stock Price Forecast

Based on our short term trading advice for Saudi Tadawul, Riyadh Cables Group stock price target will be SAR 112 - SAR 114 in the next 12-14 trading sessions.