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Prime Trading Advice (B) | Expected Gain 5-6% | Naranj Capital

SHORT TERM TRADING ADVICE IN SAUDI ARABIA

 BUY   Saudi Arabia Refineries (TADAWUL: 2030)

Tadawul 2030 : Saudi Arabia Refineries - STOCK RECOMMENDATION

Idea BUY
Buy Range 95 – 96.5
Target 101 – 102
StopLoss* below 92.8
Duration 8-10 Trading Days
Potential Returns 5 – 6%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 95 – 96.5 101 – 102 below 92.8 8-10 Trading Days 5 – 6%

* 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.

 Tradingview position update
 Stock advice on social media

Tadawul 2030 : Saudi Arabia Refineries - STOCK OVERVIEW

The Saudi Arabia Refineries Company is headquartered in Jeddah, is actively involved in the extraction of crude oil within the Kingdom of Saudi Arabia. Their operations encompass the construction of refineries and petrochemical plants, as well as the acquisition and sale of lands and real estate. Additionally, the company specializes in the management and leasing of non-residential real estate properties, along with securities trading. Moreover, they make strategic investments in local businesses.

Stock Data
TADAWUL Code 2030
Sectoral Index Energy
52 Weeks High 99.7
52 Weeks Low 73

Tadawul 2030 : Saudi Arabia Refineries - RELATIVE STRENGTH

Tadawul 2030-Saudi Arabia Refineries-Relative Strength

Relative Performance - Last 1 Year

Saudi Arabia Refineries —     TASI —

Tadawul 2030 : Saudi Arabia Refineries - TECHNICAL ANALYSIS (DAILY)

Tadawul 2030-Saudi Arabia Refineries-Daily Technical Analysis
Tadawul 2030 - Saudi Arabia Refineries - Technical Analysis (Daily)

  • After a huge downfall, price had been consolidating in a range.

  • Technically Level 100 was the major resistance for the price, which was a psychological resistance level also.

  • In this deep consolidation phase, price has formed a Double Bottom pattern, which is a trend reversal pattern.

  • Recently a fresh breakout has been seen in the chart, which is also supported by the volume.

  • If the price manages to sustain above 100 level, then we will be witnessing the price to reach at higher levels in coming days.

Tadawul 2030 : Saudi Arabia Refineries - MACD

Tadawul 2030-Saudi Arabia Refineries-MACD
Tadawul 2030 - Saudi Arabia Refineries - MACD

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.

Tadawul 2030 : Saudi Arabia Refineries - MA Cross

Tadawul 2030-Saudi Arabia Refineries-MA Cross
Tadawul 2030 - Saudi Arabia Refineries - MA Cross

The short length moving average (10 SMA) is just crossing the long length moving average (20 SMA) from the below, generates bullish signal. Last dayโ€™s candle has closed above all these moving averages. This suggests buyers are taking interest in this stock.

Tadawul 2030 : Saudi Arabia Refineries - RSI

Tadawul 2030-Saudi Arabia Refineries-RSI
Tadawul 2030 - Saudi Arabia Refineries - RSI

Current RSI of this stock is 68.78, which indicates the strength of buyers.

CONCLUSION - Tadawul 2030 : Saudi Arabia Refineries STOCK PRICE FORECAST

Based on our stock trading advice in Saudi Arabia, Saudi Arabia Refineries stock price target will be SAR 95 – SAR 96.5 in the next 8-10 trading sessions.

Tadawul 2030 : Saudi Arabia Refineries - TRADINGVIEW POSITION UPDATE

ุงุดุชุฑ ุงู„ู…ุตุงููŠ by NaranjCapital on TradingView.com

Follow Tadawul 2030 : Saudi Arabia Refineries TRADING ADVICE On Social Media

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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Pricing

Pricing (in SAR)

  • 15 advice         SAR 1500               --             SAR 1500
  • 45 advice         SAR 4500        20% OFF       SAR 3600
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     35% OFF 
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     50% OFF 
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