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Trading Signals for Saudi Stock Market

 BUY   Saudi Aramco Base Oil (TADAWUL: 2223)

Saudi Aramco Base Oil - STOCK RECOMMENDATION

Idea BUY
Buy Range 146.5 – 149.5
Target 157 – 160
StopLoss* below 142
Duration 12 – 14 Trading Days
Potential Returns 7 – 9%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 146.5 – 149.5 157 – 160 below 142 12 – 14 Trading Days 7 – 9%

* Once the first target hit, reset the StopLoss at your buying price.

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 Tradingview position update
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Saudi Aramco Base Oil - STOCK OVERVIEW

Saudi Aramco Base Oil is the largest oil production company in the world. Products from the company are sold throughout the Kingdom as well as in other MENA countries, European, and American nations. It produces a range of Group I and Group II Base Oils, which are sold to significant national, regional, and international oil firms both inside and beyond the Kingdom.

Stock Data
TADAWUL Code 2223
Sectoral Index Materials
52 Weeks High 157.8
52 Weeks Low 95.8

Saudi Aramco Base Oil - TECHNICAL ANALYSIS (DAILY)

Tadawul2223 - Saudi Aramco Base Oil- Daily Technical Analysis
  • The stock price of Saudi Aramco Base Oil (2223) witnessed a strong rally during March 2023- July 2023, rallying from SAR 103 to SAR 149.
  • In July 2023 the stock price was showing lack of strength to sustain the up move and was moving in a rectangular consolidation pattern for four months till the October 2023.
  • After showing consolidation for few months, in the October, 2023, the stock price slipped into the sharp declines and moved below SAR 125, giving a breakout forming a assenting triangular pattern.
  • We are witnessing the formation of โ€˜Higher Highs Lower Lowsโ€™ for the last few weeks, which is a positive sign.

Saudi Aramco Base Oil - Relative Strength Index

Tadawul2223 - Saudi Aramco Base Oil - RSI
  • As a reading of 50 denotes a balance between bullish and bearish positions so the 60 RSI indicates that the stock is going to move upward.

Saudi Aramco Base Oil - Moving Average

Tadawul 2223 - Saudi Aramco Base Oil - Moving Average
  • The chart with the Moving Average indicator shows that the stock price has crossed the both MA lines which tells us that the stock is ready for an up move.

Saudi Aramco Base Oil - Volume Profile Indicator

Tadawul 2223-Saudi Aramco Base Oil-Volume Profile Indicator-1
Tadawul 2223 - Saudi Aramco Base Oil - Volume Profile

  • The chart shows the maximum volume appears in SAR 150. this indicates positive buying sentiments in upcoming days.

CONCLUSION -Saudi Aramco Base Oil PRICE FORECAST

Based on our Saudi stock trading tips, Saudi Aramco Base Oilย stock price target will be SAR 157 – SAR 160ย in the next 12-14 trading sessions.

Saudi Aramco Base Oil - TRADINGVIEW POSITION UPDATE

ุงุดุชุฑ ู„ูˆุจุฑูŠู by NaranjCapital on TradingView

Follow Tadawul 2223: Saudi Aramco Base Oil TRADING ADVICE On Social Media

MONEY MANAGEMENT AND TRADING RULES

1)ย  Itโ€™s advisable to enter/exit in the recommended range.
2)ย  Strictly follow the StopLoss as mentioned. Honour it.
3) ย Use trailing StopLoss to retain profits.
4)ย  Diversify trading capital into our other trading recommendations.
5)ย  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 ofย 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 aย Certified Financial Technician (CFTe)ย 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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Pricing

Pricing (in SAR)

  • 15 advice         SAR 1500               --             SAR 1500
  • 45 advice         SAR 4500        20% OFF       SAR 3600
  • 90 advice         SAR 9000        33% OFF       SAR 6000
  • 180 advice     SAR 18000       50% OFF       SAR 9000
  • 15 advice                            SAR 1500
            --        
  • 45 advice      SAR 4500     SAR 3600
     20% OFF 
  • 90 advice      SAR 9000     SAR 5850
     35% OFF 
  • 180 advice   SAR 18000   SAR 9000
     50% OFF 
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