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Saudi Prime Trading Advice (C) | 06-Jan-2025 | Expected Gain 8%-11%

SHORT TERM TRADING ADVICE IN SAUDI ARABIA

 BUY   Riyadh Cables Group (TADAWUL: 4142)

Tadawul 4142 : Riyadh Cables Group - STOCK RECOMMENDATION

Idea BUY
Buy Range 144 – 148
Target 160 – 164
StopLoss* below 135
Duration 14-15 Trading Days
Potential Returns 8% – 11%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 144 – 148 160 – 164 below 135 14-15 Trading Days 8% – 11%

* 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 4142 : Riyadh Cables Group - STOCK OVERVIEW

Riyadh Cables Group Co. specializes in the manufacturing, promotion, and distribution of various types of cables. The company is divided into several segments: Cables and Wires, High Voltage Cables, and Other. The Cables and Wires segment focuses on electrical cables, while the High Voltage Cables segment is dedicated to completed projects. Additionally, the Other segment provides telephone cables and related services. Established on January 18, 1984, the company is based in Riyadh, Saudi Arabia.

Stock Data
TADAWUL Code 4142
Sectoral Index Capital Goods
52 Weeks High 158
52 Weeks Low 83.8

Tadawul 4142 : Riyadh Cables Group - RELATIVE STRENGTH

TADAWUL 4142 - RIYADH CABLES - RELATIVE STRENGTH

Relative Performance - Last 1 Year

Riyadh Cables —     TASI —

Tadawul 4142 : Riyadh Cables Group - TECHNICAL ANALYSIS (DAILY)

TADAWUL 4142 - RIYADH CABLES - DAILY TECHNICAL ANALYSIS
Riyad Bank - Technical Analysis (Daily)
  • The stock price had been consolidating within a narrow range.
  • However, after a significant breakout with strong trading volume, it has reached a new all-time high of 158.
  • Following a short pullback, the stock is now on the rise again.

Tadawul 4142 : Riyadh Cables Group - RSI

TADAWUL 4142 - RIYADH CABLES - RSI
Tadawul 4142 : Riyadh Cables Group - RSI
  • Current RSI of this stock is 75.33, which indicates the strength of buyers.

Tadawul 4142 : Riyadh Cables Group - ADX & DI

TADAWUL 4142 - RIYADH CABLES - ADX & DI
Tadawul 4142 : Riyadh Cables Group - 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.

Tadawul 4142 : Riyadh Cables Group - EMA Cross

Tadawul 4142 : Riyadh Cables Group - 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 dayโ€™s candle has closed above all these moving averages. This suggests buyers are taking interest in this stock.

CONCLUSION - Tadawul 4142 : Riyadh Cables Group STOCK PRICE FORECAST

Based on our stock trading advice in Saudi Arabia, Riyadh Cables Group stock price target will be SAR 160 – SAR 164 in the next 14-15 trading sessions.

Tadawul 4142 : Riyadh Cables Group - TRADINGVIEW POSITION UPDATE

ุงุดุชุฑ ูƒุงุจู„ุงุช ุงู„ุฑูŠุงุถ by NaranjCapital on TradingView.com

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 (in SAR)

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