Prime Trading Advice (A) | Expected Gain 7-8% | Naranj Capital

 BUY   Saudi Company for Hardware (TADAWUL: 4008)

Tadawul 4008 : Saudi Company for Hardware - STOCK RECOMMENDATION

Idea BUY
Buy Range 37 – 38
Target 40.5 – 41
StopLoss* below 35.5
Duration 14-15 Trading Days
Potential Returns 7 – 8%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 37 – 38 40.5 – 41 below 35.5 14-15 Trading Days 7 – 8%

* 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 4008 : Saudi Company for Hardware - STOCK OVERVIEW

Saudi Company for Hardware or SACO headquartered in Riyadh, Saudi Arabia, stands as a leading import, export, wholesale, and retail provider of home improvement products in Saudi Arabia, known for its extensive reach. With a robust presence in 19 cities across the Kingdom, SACO operates a total of 35 stores, including five expansive SACO World superstores. Spanning from 2,000 to 24,500 square meters, these retail spaces offer an impressive selection of over 45,000 diverse products. Its wide range of offerings includes automotive, bed and bath, building materials, electrical and power supplies, electrical appliances, furniture, hardware, houseware, lawn and garden, lighting, outdoors, paint and sundries, plumbing supplies and fixtures, sports and accessories, storage and organization, tools, and toys. The company operates through two main segments: Sales and Services, which focuses on selling goods to retail and wholesale customers, and Logistic Services, which provides logistics solutions such as freight forwarding, transportation, and contract logistics to clients.

Stock Data
TADAWUL Code 4008
Sectoral Index Consumer Discretionary Distribution & Retail
52 Weeks High 45.7
52 Weeks Low 24.9

Tadawul 4008 : Saudi Company for Hardware - RELATIVE STRENGTH

Tadawul 4008-Saudi Company For Hardware-Relative Strength

Relative Performance - Last 1 Year

Saudi Company for Hardware —     TASI —

Tadawul 4008 : Saudi Company for Hardware - TECHNICAL ANALYSIS (DAILY)

Tadawul 4008-Saudi Company For Hardware-Daily Technical Analysis
Saudi Company for Hardware - Technical Analysis (Daily)
  • Previously, the price was moving downwards, through a parallel channel.
  • Price has made a low at near 25 level.
  • After that, price started moving upside slowly.
  • With a breakout of the previous resistance level, price has given a sharp upside move and reached at 46 level.
  • Then the price started consolidating and came back to the previous breakout zone to retest.
  • With the descent volume rise, price is currently moving upside.

Tadawul 4008 : Saudi Company for Hardware - Technical Indicator - MACD

Tadawul 4008-Saudi Company For Hardware-MACD
Saudi Company for Hardware - MACD

MACD line has just crossed the signal line from the below and a positive histogram chart is forming. This can be considered as a bullish signal.

Tadawul 4008 : Saudi Company for Hardware - Technical Indicator- EMA cross

Tadawul 4008-Saudi Company For Hardware-EMA Cross
Saudi Company for Hardware - EMA Cross

The short length exponential moving average (5 EMA) has crossed the long length exponential moving average (10 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.

Tadawul 4008 : Saudi Company for Hardware - Technical Indicator- OBV

Tadawul 4008-Saudi Company For Hardware-OBV
Saudi Company for Hardware - OBV

The OBV line is moving in the same upward direction which means there is a positive sentiment in the market. Also the significant price up move accompanying with increasing OBV volume suggests strong buying pressure.

CONCLUSION - Tadawul 4008 : Saudi Company for Hardware STOCK PRICE FORECAST

Based on our stock trading advice in Saudi Arabia, Saudi Company for Hardware stock price target will be SAR 40.5 – SAR 41 in the next 14-15 trading sessions.

Tadawul 1010: Riyad Bank - TRADINGVIEW POSITION UPDATE

Follow Tadawul 1010: Riyad Bank 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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