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 BUY   Saudi Ceramic (TADAWUL: 2040)

TADAWUL 2040 : Saudi Ceramic - STOCK RECOMMENDATION

Idea BUY
Buy Range 30.5 – 31
Target 32.8 – 33.2
StopLoss* below 29.5
Duration 10-12 Trading Days
Potential Returns 6 – 7%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 30.5 – 31 32.8 – 33.2 below 29.5 10-12 Trading Days 6 – 7%

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

TADAWUL 2040 : Saudi Ceramic - STOCK OVERVIEW

Saudi Ceramics is a renowned leader in the ceramics sector and a bold participant in the Tadawul, the Saudi stock market. Through its unwavering dedication to excellence, innovation, and customer contentment, Saudi Ceramics has garnered significant triumph. The company is engaged in the importation of associated machinery, equipment, and other accessories. It conducts its business activities through two segments: Ceramic Tiles and Sanitary Ware, as well as Water Heaters. The company is widely recognized for its extensive selection of ceramic goods and exceptional artistry, solidifying its position as a trustworthy and dependable option for customers in pursuit of top-tier ceramics.

Stock Data
TADAWUL Code 2040
Sectoral Index Capital Goods
52 Weeks High 36
52 Weeks Low 22.68

TADAWUL 2040 : Saudi Ceramic - RELATIVE STRENGTH

Tadawul 2040-Saudi Ceramic Co.-Relative Strength

Relative Performance - Last 1 Year

Saudi Ceramic —     TASI —

TADAWUL 2040 : Saudi Ceramic - TECHNICAL ANALYSIS (DAILY)

Tadawul 2040-Saudi Ceramics-Daily Technical Analysis Chart
TADAWUL 2040 : Saudi Ceramic - Technical Analysis (Daily)
  •  From the daily chart, we can observe that the price previously was in a downtrend and making Lower Highs and Lows.
  • A sharp correction was seen after the down break of the Symmetrical Triangle pattern.
  • From Dec’22 the trend was changed and price started making Higher Highs and lows. Although the trend was not that strong.
  • Price couldn’t go upside above 36 level and got rejected from that level. 
  • A sharp correction was seen, which was almost 37%.
  • Then the price formed an Ascending triangle Pattern and with a strong breakout, price has managed to break its previous trendline resistance also.
  • At the current moment volume is very impressive that shows somewhere the ‘Smart Money’ is coming in which can take the price to the upper levels.

TADAWUL 2040 : Saudi Ceramic - RSI

Tadawul 2040-Saudi Ceramic Co.-RSI
TADAWUL 2040 : Saudi Ceramic - RSI
  • The current RSI of the stock is 74.08, shows strength of buyers. RSI line is also in a uptrend, which is very positive signal.

TADAWUL 2040 : Saudi Ceramic - MACD

Tadawul 2040-Saudi Ceramic Co.-MACD
TADAWUL 2040 : Saudi Ceramic - MACD
  • MACD line has crossed the signal line from the below and a positive histogram chart is forming. This can be considered as a bullish signal.

TADAWUL 2040 : Saudi Ceramic - ADX and DI

Tadawul 2040-Saudi Ceramic Co.-ADX and DI
TADAWUL 2040 : Saudi Ceramic - ADX and 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 2040 : Saudi Ceramic STOCK PRICE FORECAST

Based on our stock trading advice in Saudi Arabia, Saudi Ceramic stock price target will be SAR 32.8 – SAR 33.2 in the next 12-14 trading sessions.

TADAWUL 2040 : Saudi Ceramic - TRADINGVIEW POSITION UPDATE

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اشتر الخزف السعودي by NaranjCapital on TradingView.com

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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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