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
Relative Performance - Last 1 Year
Saudi Advanced Industries — TASI —
TADAWUL 2120 : Saudi Advanced Industries - TECHNICAL ANALYSIS (DAILY)
- ย 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
- The short length moving average (10 SMA) has crossed the long length moving average (20 SMA) from the below, generates bullish signal. Last dayโs candle has closed above all these moving averages. This suggests buyers are taking interest in this stock.
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
- 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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— Naranj Capital ูุงุฑุงูุฌ ูุงุจูุชุงู (@NaranjCapital) February 26, 2024
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