Saudi Prime Trading Advice (B) | 27-May-2024 | Expected Gain 6%-7%

 BUY   Al-Jouf Agricultural Development (TADAWUL: 6070)

Tadawul 6070 : Al-Jouf Agricultural Development - STOCK RECOMMENDATION

Idea BUY
Buy Range 63.5 – 64.5
Target 68 – 69
StopLoss* below 61.5
Duration 8-10 Trading Days
Potential Returns 6% – 7%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 63.5 – 64.5 68 – 69 below 61.5 8-10 Trading Days 6% – 7%

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

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Tadawul 6070 : Al-Jouf Agricultural Development - STOCK OVERVIEW

Al-Jouf Agricultural Development Co. engages in the production, sale, and marketing of agricultural products in the Kingdom of Saudi Arabia. The company offers sweet potatoes, dates, olive oil, and honey. It also engages in the palm and olive agriculture, as well as beekeeping activities. The company was founded in 1988 and is headquartered in Sakakah, the Kingdom of Saudi Arabia.

Stock Data
TADAWUL Code 6070
Sectoral Index Food & Beverages
52 Weeks High 70.2
52 Weeks Low 42.45

Tadawul 6070 : Al-Jouf Agricultural Development - RELATIVE STRENGTH

Tadawul 6070-Al Jouf Agricultural Development-Relative Strength

Relative Performance - Last 1 Year

Al-Jouf Agricultural Development —     TASI —

Tadawul 6070 : Al-Jouf Agricultural Development - TECHNICAL ANALYSIS (DAILY)

Tadawul 6070-Al Jouf Agricultural Development-Daily Technical Analysis
Tadawul 6070 : Al-Jouf Agricultural Development - Technical Analysis (Daily)
  • After a downtrend, price started forming higher highs and lows.
  • With a strong breakout, price has given a sharp up move and reached to its 52 week high at near 70 level.
  • With a short pull back, price is trying to move upside further.
  • Volume has also been increasing, which can be considered as a positive signal.

Tadawul 6070 : Al-Jouf Agricultural Development - RSI

Tadawul 6070-Al Jouf Agricultural Development-RSI
Tadawul 6070 : Al-Jouf Agricultural Development - RSI
  • Current RSI of this stock is 65.72, which indicates the strength of buyers.

Tadawul 6070 : Al-Jouf Agricultural Development - MACD

Tadawul 6070 : Al-Jouf Agricultural Development - MACD
  • MACD line has crossed the signal line from the below, generates bullish signal.

Tadawul 6070 : Al-Jouf Agricultural Development - ADX & DI

Tadawul 6070 : Al-Jouf Agricultural Development - ADX & 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.

CONCLUSION - Tadawul 6070 : Al-Jouf Agricultural Development STOCK PRICE FORECAST

Based on our stock trading advice in Saudi Arabia, Al-Jouf Agricultural Development stock price target will be SAR 68 – SAR 69 in the next 8-10 trading sessions.

Tadawul 6070 : Al-Jouf Agricultural Development - TRADINGVIEW POSITION UPDATE

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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