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Prime Trading Advice (B) | Expected Gain 8-10% | Naranj Capital

Trading Signals for Saudi Stock Market

 BUY   Astra Industrial (TADAWUL: 1212)

Tadawul 1212 : Astra Industrial - STOCK RECOMMENDATION

Idea BUY
Buy Range 152.5 – 155
Target 167 – 170
StopLoss* below 147
Duration 14-15 Trading Days
Potential Returns 8 – 10%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 152.5 – 155 167 – 170 below 147 14-15 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.

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Tadawul 1212 : Astra Industrial - STOCK OVERVIEW

Astra Industrial Group was founded in 1988 and it’s Headquartered in Riyadh, Saudi Arabia. The company engages in the production, marketing and distribution of medicine and pharmaceutical products, polymer compounds, plastic additives, color concentrates and other plastic products, pre-engineered steel buildings and steel structures in Saudi Arabia and abroad. Astra Industries focuses on three areas of activities in energy sector; power generation, distribution and substations and power rental.

Astra Farms is engaged in production of fruits, vegetables, flowers, quails, poultry, dairy and processed food. Astra Grains: primarily located in Jeddah and is engaged in the general trading of food commodities, such as nuts, pulses, spices, edible oils, coffee, rice and more. Astra Commercial: serves the North Western part of Saudi Arabia. This branch is engaged in the retail and wholesale business of grocery items, bakery, gas station. Apart from these Astra Industries also engaged in the services of mining, financial services and investment, education & healthcare, real estate and hospitality, media and telecommunication. The group subsidiaries conduct their businesses inside and outside Kingdom of Saudi Arabia.

Stock Data
TADAWUL Code 1212
Sectoral Index Capital Goods
52 Weeks High 158
52 Weeks Low 55.6

Tadawul 1212 : Astra Industrial - RELATIVE STRENGTH

Tadawul 1212-Astra Industrial Group-Relative Strength

Relative Performance - Last 1 Year

Astra Industrial —     TASI —

Tadawul 1212 : Astra Industrial - TECHNICAL ANALYSIS (DAILY)

Tadawul 1212-Astra Industrial-Daily Technical Analysis
Tadawul 1212 : Astra Industrial - Technical Analysis (Daily)
  • As we can see, price had been consolidating in a range from July’23 to Nov’23 and formed a Rounding Bottom Pattern, which indicated consolidation phase is going to over.
  • Then with a strong bullish Marubozu candle, price broke the neckline of Double Bottom pattern.
  • There is also an Ascending Triangle pattern can be seen at the chart, which is a very bullish pattern itself.
  • With again an strong breakout, price moved to 144 level.
  • From there a short correction was seen, which was very needed for the price.
  • Price took support exactly from the breakout zone and with a sharp move it managed to breakthrough the previous resistance.
  • Currently price is trading at All Time High. We can expect a sharp upmove if the price sustains the level.ย 

Tadawul 1212 : Astra Industrial - ADX and DI

Tadawul 1212-Astra Industrial Group-ADX and DI
Tadawul 1212 : Astra Industrial - Technical Indicator ADX, +DI, -DI
  • 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 1212 : Astra Industrial - RSI

Tadawul 1212 : Astra Industrial - Technical Analysis RSI
  • Current RSI of this stock is 74.53, which indicates the strength of buyers.

Tadawul 1212 : Astra Industrial - MA Cross

Tadawul 1212 : Astra Industrial - Technical Analysis Moving Average Crossover
  • The short length moving average (10 SMA) has crossed 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.

CONCLUSION - Tadawul 1212 : Astra Industrial STOCK PRICE FORECAST

Based on our trading signals for Saudi Tadawul, Astra Industrial stock price target will be SAR 167 – SAR 170ย in the next 12-14 trading sessions.

Tadawul 1212 : Astra Industrial - TRADINGVIEW POSITION UPDATE

ุงุดุชุฑ ุฃุณุชุฑุง ุงู„ุตู†ุงุนูŠุฉ by NaranjCapital on TradingView

Follow Tadawul 1212 : Astra IndustrialTRADING 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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