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 BUY   Saudi Paper Manufacturing (TADAWUL: 2300)

Tadawul 2300 : Saudi Paper Manufacturing - STOCK RECOMMENDATION

Idea BUY
Buy Range 50 – 51
Target 54 – 55
StopLoss* below 48.5
Duration 12-14 Trading Days
Potential Returns 8 – 10%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 50 – 51 54 – 55 below 48.5 12-14 Trading Days 8 – 10%

* 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 2300 : Saudi Paper Manufacturing - STOCK OVERVIEW

Saudi Paper Manufacturing Co. engages in the manufacture of tissue paper rolls, conversion of tissue paper rolls into facial, kitchen, and toilet tissue papers; and collection, sorting, transport, and press of waste papers. In addition, SPMC saves the environment and benefits the community through its interest in paper recycling and reducing its reliance on virgin pulp which is manufactured through the consumption of forest trees. The company was founded on November 13, 1989 and is headquartered in Dammam, Saudi Arabia.

Stock Data
TADAWUL Code 2300
Sectoral Index Materials
52 Weeks High 52.9
52 Weeks Low 25

Tadawul 2300 : Saudi Paper Manufacturing - RELATIVE STRENGTH

TADAWUL 2300-SAUDI PAPER MANUFACTURING CO.-RELATIVE STRENGTH

Relative Performance - Last 1 Year

Saudi Paper Manufacturing —     TASI —

Tadawul 2300 : Saudi Paper Manufacturing - TECHNICAL ANALYSIS (DAILY)

TADAWUL 2300-SAUDI PAPER MANUFACTURING CO.-DAILY TECHNICAL ANALYSIS
Tadawul2300-Saudi Paper Manufacturing - Technical Analysis (Daily)
  • After taking a sharp rally, price had gone through a deep consolidation phase from Sept’23 to Dec’23. Bulls were restoring their strength for the next move.
  • In this time, price has formed a very interesting chart pattern, which is called Cup & Handle pattern. This pattern is itself a very bullish pattern.
  • After the breakout, price came back for a retracement and took support by forming a Bullish Hammer candle at the trendline. Price has bounced a many times previously from this trendline.
  • After two consecutive breakout, price has gone so far and currently trading at 51 level.
  • We might expect a positive move above this level.

Tadawul 2300 : Saudi Paper Manufacturing - MA CROSS

TADAWUL 2300-SAUDI PAPER MANUFACTURING CO.-MA CROSS
Tadawul2300-Saudi Paper Manufacturing - MA Cross
  • Price has taken support at 10 SMA and closed above 10,20 SMA. This indicates that price has a positive momentum.

Tadawul 2300 : Saudi Paper Manufacturing - rsi

TADAWUL 2300-SAUDI PAPER MANUFACTURING CO.-RSI
Tadawul2300-Saudi Paper Manufacturing - RSI
  • Current RSI of this stock is 70.29, shows strength of the trend.
  • The RSI line is also in a uptrend, which indicates, price is not intend to come down so easily.

Tadawul 2300 : Saudi Paper Manufacturing - macd

TADAWUL 2300-SAUDI PAPER MANUFACTURING CO.-MACD
Tadawul2300-Saudi Paper Manufacturing - MACD
  • MACD line is crossing the Signal line from the below generates strong bullish signal.

CONCLUSION - Tadawul 2300 : Saudi Paper Manufacturing STOCK PRICE FORECAST

Based on our stock trading advice in Saudi Arabia, Saudi Paper Manufacturing stock price target will be SAR 54 – SAR 55 in the next 12-14 trading sessions.

Tadawul 2300: Saudi Paper Manufacturing - TRADINGVIEW POSITION UPDATE

Follow Tadawul 2300: Saudi Paper Manufacturing 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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