Saudi Prime Trading Advice (A) | 22-Jul-2024 | Expected Gain 8%-10%

 BUY   Saudi Real Estate (TADAWUL: 4020)

Tadawul 4020 : Saudi Real Estate - STOCK RECOMMENDATION

Idea BUY
Buy Range 20.5 – 21
Target 22.75 – 23.2
StopLoss* below 19.75
Duration 10-12 Trading Days
Potential Returns 8% – 10%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 20.5 – 21 22.75 – 23.2 below 19.75 10-12 Trading Days 8% – 10%

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

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Tadawul 4020 : Saudi Real Estate - STOCK OVERVIEW

Saudi Real Estate Co. functions as a real estate development firm. It offers a range of services such as real estate development, land development and trade, portfolio management, and property and facility management. The company primarily focuses on land ownership and development, constructing and selling or leasing commercial and residential properties. It also deals in the production, sale, purchase, and rental of construction materials and equipment, and undertakes building construction projects through contracts. This company is headquartered in Riyadh, Saudi Arabia.

Stock Data
TADAWUL Code 4020
Sectoral Index Real Estate Management
52 Weeks High 24.52
52 Weeks Low 11.7

Tadawul 4020 : Saudi Real Estate - RELATIVE STRENGTH

Tadawul 4020-Saudi Real Estate-Relative Strength

Relative Performance - Last 1 Year

Saudi Real Estate —     TASI —

Tadawul 4020 : Saudi Real Estate - TECHNICAL ANALYSIS (DAILY)

Tadawul 4020-Saudi Real Estate-Daily Technical Analysis
Tadawul 4020 : Saudi Real Estate - Technical Analysis (Daily)
  • The stock price went through a downtrend, then began consolidating and formed an Inverted Head & Shoulder pattern.
  • Following the breakout, the stock price surged upwards but encountered a strong rejection, leading to a downtrend.
  • Eventually, the stock found a base and started moving upwards by breaking out of the consolidation range.
  • After that, there was a strong upside rally, bringing the price to its all-time high.
  • However, the stock then faced a rejection and experienced a sharp correction.
  • Currently, the price is once again moving upwards with decent volume support and is expected to continue its upward movement.

Tadawul 4020 : Saudi Real Estate - RSI

Tadawul 4020-Saudi Real Estate-RSI
Tadawul 4020 : Saudi Real Estate - RSI
  • Current RSI of this stock is 70.71, which indicates the strength of buyers.

Tadawul 4020 : Saudi Real Estate - MACD

Tadawul 4020 : Saudi Real Estate - MACD
  • MACD line has crossed the signal line from the below, generates bullish signal.

Tadawul 4020 : Saudi Real Estate - ADX & DI

Tadawul 4020 : Saudi Real Estate - 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.

CONCLUSION - Tadawul 4020 : Saudi Real Estate STOCK PRICE FORECAST

Based on our stock trading advice in Saudi Arabia, Saudi Real Estate stock price target will be SAR 22.75 – SAR 23.2 in the next 10-12 trading sessions.

Tadawul 4020 : Saudi Real Estate - TRADINGVIEW POSITION UPDATE

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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