Saudi Prime Trading Advice (C) | 20-Jan-2025 | Expected Gain 9%-11%

 BUY   Saudi Cable (TADAWUL: 2110)

Tadawul 2110 : Saudi Cable - STOCK RECOMMENDATION

Idea BUY
Buy Range 107 – 112
Target 122 – 124
StopLoss* below 100
Duration 14-15 Trading Days
Potential Returns 9% – 11%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 107 – 112 122 – 124 below 100 14-15 Trading Days 9% – 11%

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

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Tadawul 2110 : Saudi Cable - STOCK OVERVIEW

Saudi Cable Company is engaged in the production and distribution of electrical and telecommunications cables both within the Kingdom of Saudi Arabia and on an international scale. The company operates through two primary segments: the Sale of Manufactured Goods and Turnkey Power and Telecommunication Projects. Its product offerings include copper rods, PVC compounds, wooden reels, and various related items. Additionally, the company is involved in the contracting, trading, and distribution of cables, electronic products, information technology solutions, and associated accessories. Saudi Cable Company also provides electrical and telecommunication services, participates in international trade, and manufactures as well as distributes electronic equipment and goods. Established in 1975, the company is headquartered in Jeddah, Saudi Arabia.

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Stock Data
TADAWUL Code 2110
Sectoral Index Capital Goods
52 Weeks High 113.8
52 Weeks Low 55.5

Tadawul 2110 : Saudi Cable - RELATIVE STRENGTH

TADAWUL 2110 - SAUDI CABLE - RELATIVE STRENGTH

Relative Performance - Last 1 Year

Saudi Cable —     TASI —

Tadawul 2110 : Saudi Cable - TECHNICAL ANALYSIS (DAILY)

TADAWUL 2110 - SAUDI CABLE - DAILY TECHNICAL ANALYSIS
Tadawul 2110 : Saudi Cable - Technical Analysis (Daily)
  • Following a phase of consolidation, the price has formed a Symmetrical Triangle pattern.
  • Upon breaking out, the stock price started moving upwards, accompanied by strong trading volume.

Tadawul 2110 : Saudi Cable - RSI

Tadawul 2110 : Saudi Cable - RSI
  • Current RSI of this stock is 70.14, which indicates the strength of buyers.

Tadawul 2110 : Saudi Cable - ADX & DI

TADAWUL 2110 - SAUDI CABLE - ADX & DI
Tadawul 2110 : Saudi Cable - 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 2110 : Saudi Cable - MACD

TADAWUL 2110 - SAUDI CABLE - MACD
Tadawul 2110 : Saudi Cable - MACD
  • MACD line has just crossed the signal line from the below, generates bullish signal.

CONCLUSION - Tadawul 2110 : Saudi Cable STOCK PRICE FORECAST

Based on our stock trading advice in Saudi Arabia, Saudi Cable stock price target will be SAR 122 – SAR 124 in the next 14-15 trading sessions.

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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