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 BUY   Saudi Advanced Industries (TADAWUL: 2120)

TADAWUL 2120 : Saudi Advanced Industries - STOCK RECOMMENDATION

Idea BUY
Buy Range 32 – 32.5
Target 34 – 34.5
StopLoss* below 31
Duration 10-12 Trading Days
Potential Returns 5 – 6%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 32 – 32.5 34 – 34.5 below 31 10-12 Trading Days 5 – 6%

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

TADAWUL 2120 : Saudi Advanced Industries - STOCK OVERVIEW

The Saudi Advanced Industries company’s objective is to bring advanced technologies to the Kingdom through participation in the economic offset program and other industrial projects. SAIC has made investments in the following companies: A lSalam Aircraft Company Limited, Arabian Industrial Fibers Company (Ibn Rushd), Industrialization & Energy Services Company, Al Obeikan Glass Company (OGC), and Masar Alnumou Finance Company. This company headquatered in Riyadh, Saudi Arabia.

Stock Data
TADAWUL Code 2120
Sectoral Index Financial Services
52 Weeks High 32.7
52 Weeks Low 31.55

TADAWUL 2120 : Saudi Advanced Industries - RELATIVE STRENGTH

Tadawul 2120-Saudi Advanced Industries Co.-Relative Strength

Relative Performance - Last 1 Year

Saudi Advanced Industries —     TASI —

TADAWUL 2120 : Saudi Advanced Industries - TECHNICAL ANALYSIS (DAILY)

Tadawul 2120-Saudi Advanced Industries-Daily Technical Analysis Chart
Tadawul 2120 : Saudi Advanced Industries - Technical Analysis (Daily)
  •  Price was trading in a range of 6 points and formed a Double Bottom Pattern.
  • After the breakout, price was consolidating and moving upwards very slowly.
  • From 34 level, price took a rejection and gave a downfall of about 28%.
  • From this level, price started moving upside by making Higher Highs and Lows.
  • Throughout this consolidation period, volume was comparatively less.
  • A Rounding Bottom pattern can be observed at the chart, which indicates the trend will be continued.
  • Now with a fresh breakout, price is moving upside further.
  • Increase in volume suggests big players are taking position, which is very positive signal.
  • We might expect a upmove from this level.

TADAWUL 2120 : Saudi Advanced Industries - MA Cross

Tadawul 2120-Saudi Advanced Industries Co.-MA Cross
Tadawul 2120 : Saudi Advanced Industries - MA Cross
  • The short length moving average (10 SMA) has crossed the long length moving average (20 SMA) 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 2120 : Saudi Advanced Industries - MACD

Tadawul 2120-Saudi Advanced Industries Co.-MACD
Tadawul 2120 : Saudi Advanced Industries - MACD
  • MACD line has crossed the signal line from the below and a positive histogram chart is forming. This can be considered as a bullish signal.

TADAWUL 2120 : Saudi Advanced Industries - RSI

Tadawul 2120-Saudi Advanced Industries Co.-RSI
Tadawul 2120 : Saudi Advanced Industries - RSI
  • Current RSI of this stock is 68.73, which indicates the strength of buyers.

CONCLUSION - TADAWUL 2120 : Saudi Advanced Industries STOCK PRICE FORECAST

Based on our stock trading advice in Saudi Arabia, Saudi Advanced Industries stock price target will be SAR 34 – SAR 34.5 in the next 12-14 trading sessions.

TADAWUL 2120 : Saudi Advanced Industries - TRADINGVIEW POSITION UPDATE

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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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