Saudi Prime Trading Advice (B) | 15-Jul-2024 | Expected Gain 5%-6%

 BUY   Taiba Investments (TADAWUL: 4090)

Tadawul 4090 : Taiba Investments - STOCK RECOMMENDATION

Idea BUY
Buy Range 42.5 – 43
Target 45 – 45.5
StopLoss* below 41.75
Duration 12-14 Trading Days
Potential Returns 5% – 6%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 42.5 – 43 45 – 45.5 below 41.75 12-14 Trading Days 5% – 6%

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

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Tadawul 4090 : Taiba Investments - STOCK OVERVIEW

Taiba Investment Company engages in various real estate activities, including investment, acquisition, development, sale, leasing, operation, maintenance, marketing, and management of properties in Saudi Arabia. Additionally, the company invests in and oversees hotels, hospitals, tourist resorts, recreational facilities, and tourism-related establishments. It also assumes responsibility for the operation, maintenance, and management of cities and public facilities. Furthermore, Taiba Investment Company is involved in architectural, civil, mechanical, and electrical contracting, as well as industrial and mining operations. The company also offers credit and mortgage services. Originally known as Taiba Holding Co., is headquartered in Riyadh, Saudi Arabia.

Stock Data
TADAWUL Code 4090
Sectoral Index Real Estate Mgmt & Development
52 Weeks High 48
52 Weeks Low 25.1

Tadawul 4090 : Taiba Investments - RELATIVE STRENGTH

Tadawul 4090-Taiba Investmenta-Relative Strength

Relative Performance - Last 1 Year

Taiba Investments —     TASI —

Tadawul 4090 : Taiba Investments - TECHNICAL ANALYSIS (DAILY)

Tadawul 4090 : Taiba Investments - Technical Analysis (Daily)
  • The stock price initially formed a Symmetrical Triangle pattern and traded within it.
  • After breaking out, it formed a bullish Pole & Flag pattern followed by a bullish Pennant pattern.
  • The stock then broke out of the Pennant pattern and moved higher. Volume increased notably during this period.
  • The stock encountered resistance near the 48 level and experienced a sharp decline.
  • However, it found support near the 38 level and began to rise.
  • Another Symmetrical Triangle pattern has emerged on the chart, indicating a potential upward breakout and continuation of the uptrend.

Tadawul 4090 : Taiba Investments - RSI

Tadawul 4090-Taiba Investmenta-RSI
Tadawul 4090 : Taiba Investments - RSI
  • The stock’s current RSI is 52.05, and the upward trend of the RSI line indicates the strength of buyers.

Tadawul 4090 : Taiba Investments - OBV

Tadawul 4090 : Taiba Investments - 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.

Tadawul 4090 : Taiba Investments - Bollinger Bands

Tadawul 4090-Taiba Investmenta-Bollinger Bands
Tadawul 4090 : Taiba Investments - Bollinger Bands
  • The Price bounced when it touched the lower band and moving upside.

CONCLUSION - Tadawul 4090 : Taiba Investments STOCK PRICE FORECAST

Based on our stock trading advice in Saudi Arabia, Taiba Investments stock price target will be SAR 45 – SAR 45.5 in the next 12-14 trading sessions.

Tadawul 4090 : Taiba Investments - 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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