Tadawul 4030 : Bahri - National Shipping Company of KSA vs TASI - Relative Strength Comparison

Tadawul 4030 : Bahri - National Shipping Company of KSA - Technical Analysis (Daily)

• Previously the price was going through a consolidation phase and has formed a Symmetrical Triangle pattern.
• After the breakout, price has given a sharp upside rally and reached at 28 level.
• From there, price started consolidating.
• During this consolidation period, an Ascending Triangle Pattern has been formed.
• In last trading session, price successfully managed to break the resistance zone with huge volume.
• If the price sustains above the 28 level then we can expect a further upside rally.

Tadawul 4030 : Bahri - National Shipping Company of KSA - RSI Indicator

• Current RSI of this stock is 67.97, which indicates the strength of buyers.

Tadawul 4030 : Bahri - National Shipping Company of KSA - ADX & DI Indicator

• 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.

Tadawul 4030 : Bahri - National Shipping Company of KSA - MACD Indicator

• 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.

Conclusion - Tadawul 4030 : Bahri - National Shipping Company of KSA Stock Price Forcast

Based on our short term trading of Saudi stocks, Bahri - National Shipping Company of KSA stock price target will be SAR 29.2 - SAR 29.6 in the next 12-14 trading sessions.