Tadawul 4220 : Emaar The Economic City vs TASI - Relative Strength Comparison

Tadawul 4220 : Emaar The Economic City - Technical Analysis (Daily)

• The price had previously consolidated and formed a Rounding Bottom pattern.
• After breaking out, it surged towards the 10 level, facing resistance on several occasions, which led to the creation of a Double Bottom pattern.
• This triggered another steep drop, sending the price crashing down to the 7 level.
• From that point, the price began to rise again, approaching the 9 level, where it faced yet another rejection.
• After finding support around the 6.2 level, the price bounced back.
• During this period, a Cup & Handle pattern developed, and following the breakout, the price is now trading close to the trendline resistance, with expectations of a breakthrough soon.

Tadawul 4220 : Emaar The Economic City - RSI Indicator

• Current RSI of this stock is 71.34, which indicates the strength of buyers.

Tadawul 4220 : Emaar The Economic City - ADX & DI Indicator

• 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 4220 : Emaar The Economic City - EMA Crossover

• 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.

Conclusion - Tadawul 4220 : Emaar The Economic City Stock Price Forecast

Based on our advice, Emaar The Economic City may rise to SAR 9 to SAR 9.2 in the next 14 - 15 trading sessions, creating an opportunity to profit by trading KSA stocks.