Tadawul trade advice (B): Saudi insurance stock | 6-7% gain | KSA stock trading signal on 19 Aug 2024

Date
August 19, 2024
Analysed By
Naranj Capital Research Desk
Stock Market
Tadawul, Saudi Arabia

Target hit. Trade closed.

19 Aug 2024
22 Aug 2024
22 Aug 2024
4 days
Loss per
100,000 SAR
Stop-loss
30.5
Buy Advice
19 Aug 2024
33 – 35
Target 1
22 Aug 2024
38
Target 2
22 Aug 2024
39
Profit per
100,000 SAR
4 days
13,372
30.5
33 – 35
38
39
13,372
19 Aug 2024
22 Aug 2024
22 Aug 2024
4 days
Loss per
100,000 SAR
Stop-loss
30.5
Buy Advice
19 Aug 2024
33 – 35
Target 1
22 Aug 2024
38
Target 2
22 Aug 2024
39
Profit per
100,000 SAR
4 days
13,372
30.5
33 – 35
38
39
13,372
  • Buy
  • Buy
    Range
  • Target
  • Stoploss
  • Upside
    Potential
  • Trade
    Duration
  • CHUBB Arabia Cooperative Insurance
  • 33 – 35
  • 38 – 39
  • Below 30.5
  • 10% – 11%
  • 12 - 14 Days
  • Buy CHUBB Arabia Cooperative Insurance
  • Buy
    Range
    33 – 35
  • Target 38 – 39
  • Stoploss Below 30.5
  • Upside
    Potential
    10% – 11%
  • Trade
    Duration
    12 - 14 Days
  • Buy
  • Buy
    Range
  • Target
  • Stoploss
  • Upside
    Potential
  • Trade
    Duration
  • CHUBB Arabia Cooperative Insurance
  • 33 – 35
  • 38 – 39
  • Below 30.5
  • 10% – 11%
  • 12 - 14 Days
  • Buy
    CHUBB Arabia Cooperative Insurance
  • Buy
    Range
    33 – 35
  • Target
    38 – 39
  • Stoploss
    Below 30.5
  • Upside
    Potential
    10% – 11%
  • Trade
    Duration
    12 - 14 Days
  • * Once the first target hit, reset the StopLoss at your buying price.
    * Trade durations are approximate; actual holding period may vary.

    Tadawul 8240 : CHUBB Arabia Cooperative Insurance - Stock Overview

  • Tadawul code
  • Stock Name
  • Sector
  • 52 Weeks High
  • 52 Weeks Low
  • 8240
  • CHUBB
  • Insurance
  • 44.2
  • 17.84
  • Tadawul code 8240
  • Stock Name CHUBB
  • Sector Insurance
  • 52 Weeks High 44.2
  • 52 Weeks Low 17.84
  • Company profile

    Chubb Arabia Cooperative Insurance Co is a Saudi Arabia-based insurance provider serving clients in 54 countries and territories. Offering a range of insurance services, Chubb specializes in commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance. The company operates through distinct business divisions including Property insurance, Engineering, Motor insurance, Casualty, and Other classes. Property insurance covers fire, allied perils, and all property risks, while the Engineering segment offers coverage for Contractors All Risks (CAR), Erection All Risks (EAR), Machinery All Risks (MAR), and more. Motor insurance provides coverage for losses and liability pertaining to motor vehicles, excluding transport insurance. The Casualty segment covers areas such as loss of money, personal accidents, workmen’s compensation, travel, general third-party liability, and professional indemnity.

  • Tadawul 8240 : CHUBB Arabia Cooperative Insurance vs TASI - Relative Strength Comparison

    The image compares CHUBB Arabia Cooperative Insurance's 1-year performance to TASI.
    Relative Performance - Last 1 Year
    CHUBB —   TASI —

  • Tadawul 8240 : CHUBB Arabia Cooperative Insurance - Technical Analysis (Daily)

    CHUBB Arabia Cooperative Insurance - Technical Analysis chart on Daily Price and Volume
    CHUBB Arabia Cooperative Insurance - Technical Analysis chart on Daily Price and Volume

    • Price was consolidating in a range for a while.
    • In this consolidation phase, a Rounding Bottom pattern has been formed.
    • After the breakout, price has given a sharp upside rally and made a high at 39 level.
    • From there a sharp downfall has also been seen which took the price down to 30.8 level.
    • Instead of falling downside further, price started moving upside.
    • A fresh breakout, of the Rounding Bottom pattern can be seen at the chart.
    • Volume has become very high in recent days.
    • We can expect a upside move further if the price manages to sustain the breakout level.
  • Tadawul 8240 : CHUBB Arabia Cooperative Insurance - RSI Indicator

    CHUBB Arabia Cooperative Insurance stock analysis based on RSI indicator
    CHUBB Arabia Cooperative Insurance - RSI indicator

    • Current RSI of this stock is 61.37, which indicates the strength of buyers.

  • Tadawul 8240 : CHUBB Arabia Cooperative Insurance - MACD Indicator

    CHUBB Arabia Cooperative Insurance stock analysis based on MACD indicator
    CHUBB Arabia Cooperative Insurance - 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.

  • Tadawul 8240 : CHUBB Arabia Cooperative Insurance - ADX & DI Indicator

    CHUBB Arabia Cooperative Insurance stock analysis based on EMA Crossover
    CHUBB Arabia Cooperative Insurance - EMA Crossover

    • The short length exponential moving average (10 EMA) has crossed the long length moving average (20 EMA) from the below, generates bullish signal. Last day’s candle has closed above all these moving averages. This suggests buyers are taking interest in this stock.

  • Conclusion - Tadawul 8240 : CHUBB Arabia Cooperative Insurance Stock Price Forecast

    Based on our trade advice for Saudi Tadawul, CHUBB Arabia Cooperative Insurance stock price target will be SAR 38 - SAR 39 in the next 12-14 trading sessions.

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    Details of Arijit Banerjee

    Arijit Banerjee CMT CFTe is a seasoned expert in the financial industry, boasting decades of experience in trading, investment, and wealth management. As the founder and chief strategist of Naranj Capital, he’s built a reputation for providing insightful research analysis to guide investment decisions.

    Arijit’s credentials are impressive, holding both the Chartered Market Technician (CMT) and Certified Financial Technician (CFTe) designations. These certifications demonstrate his expertise in technical analysis and financial markets.

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