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Saudi Prime Trading Advice (B) | 30-Sep-2024 | Expected Gain 5%-6%

SHORT TERM TRADING ADVICE IN SAUDI ARABIA

 BUY   Elm (TADAWUL: 7203)

Tadawul 7203 : Elm - STOCK RECOMMENDATION

Idea BUY
Buy Range 1100 – 1120
Target 1175 – 1185
StopLoss* below 1075
Duration 12-14 Trading Days
Potential Returns 5% – 6%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 1100 – 1120 1175 – 1185 below 1075 12-14 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. Be assured such records are permanent and irreversible.

 Tradingview position update

Tadawul 7203 : Elm - STOCK OVERVIEW

Elm Company delivers off-the-shelf and personalized digital solutions in Saudi Arabia. It provides technical services, online portals, electronic applications, and associated support operations, along with comprehensive technology business solutions to clients across both public and private sectors. Additionally, the company offers business process outsourcing services and expert advisory services in data analysis and artificial intelligence. Originally known as Al-ELM Information Security Company, Elm Company is currently headquartered in Riyadh, Saudi Arabia.

Stock Data
TADAWUL Code 7203
Sectoral Index Software & Services
52 Weeks High 1125
52 Weeks Low 671.8

Tadawul 7203 : Elm - RELATIVE STRENGTH

TADAWUL 7203-ELM-RELATIVE STRENGTH

Relative Performance - Last 1 Year

Elm —     TASI —

Tadawul 7203 : Elm - TECHNICAL ANALYSIS (DAILY)

TADAWUL 7203-ELM-DAILY TECHNICAL ANALYSIS
Tadawul 7203 : Elm - Technical Analysis (Daily)
  • Previously, the stock price exhibited a Rounding Bottom pattern, and following a breakout, it achieved an all-time high of SAR 1125.
  • However, the price encountered significant resistance at this level, led to a consolidation phase, during which it formed another Rounding Bottom pattern.
  • With a recent breakout, the price is now attempting to sustain an upward trajectory.

Tadawul 7203 : Elm - RSI

Tadawul 7203 : Elm - RSI
  • Current RSI of this stock is 77.24, which indicates the strength of buyers.

Tadawul 7203 : Elm - EMA Cross

TADAWUL 7203-ELM-EMA CROSS
Tadawul 7203 : Elm - EMA Cross
  • The short length exponential moving average (10 EMA) has crossed the long length exponential 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.

Tadawul 7203 : Elm - ADX & DI

Tadawul 7203 : Elm - 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 7203 : Elm STOCK PRICE FORECAST

Based on our stock trading advice in Saudi Arabia, Elm stock price target will be SAR 1175 – SAR 1185 in the next 12-14 trading sessions.

Tadawul 7203 : Elm - TRADINGVIEW POSITION UPDATE

اشتر علم by NaranjCapital on TradingView.com

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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Pricing

Pricing (in SAR)

  • 15 advice         SAR 1500               --             SAR 1500
  • 45 advice         SAR 4500        20% OFF       SAR 3600
  • 90 advice         SAR 9000        33% OFF       SAR 6000
  • 180 advice     SAR 18000       50% OFF       SAR 9000
  • 15 advice                            SAR 1500
            --        
  • 45 advice      SAR 4500     SAR 3600
     20% OFF 
  • 90 advice      SAR 9000     SAR 5850
     35% OFF 
  • 180 advice   SAR 18000   SAR 9000
     50% OFF 
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