Saudi Prime Trading Advice (C) | 29-Jul-2024 | Expected Gain 6%-8%

 BUY   Bank Albilad (TADAWUL: 1140)

Tadawul 1140 : Bank Albilad - STOCK RECOMMENDATION

Idea BUY
Buy Range 35 – 36
Target 38 – 38.75
StopLoss* below 33.65
Duration 12-14 Trading Days
Potential Returns 6% – 8%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 35 – 36 38 – 38.75 below 33.65 12-14 Trading Days 6% – 8%

* 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.

Tadawul 1140 : Bank Albilad - STOCK OVERVIEW

Bank Albilad provides a variety of banking products and services in Saudi Arabia through its subsidiaries. It operates in four segments: Retail Banking, Corporate Banking, Treasury, and Investment Banking and Brokerage. The company offers various accounts, financing products, real estate financing, auto financing, remittances, currency exchange, corporate financing solutions, cash management, trade finance, money market, treasury services, SME financing, point of sale services, e-commerce payment platforms, investment management, asset management, payroll services, wage protection systems, and internet banking. Established in 2004, Bank Albilad is based in Riyadh, Saudi Arabia.

Stock Data
TADAWUL Code 1140
Sectoral Index Banks
52 Weeks High 41.36
52 Weeks Low 28.6

Tadawul 1140 : Bank Albilad - RELATIVE STRENGTH

Tadawul 4110-Batic Investments & Logistics-Relative Strength

Relative Performance - Last 1 Year

Bank Albilad —     TASI —

Tadawul 1140 : Bank Albilad - TECHNICAL ANALYSIS (DAILY)

Tadawul 1140-Bank Albilad-Daily Technical Analysis
Tadawul 1140 : Bank Albilad - Technical Analysis (Daily)
  • The stock price had been in a downtrend and then consolidated within a Symmetrical Triangle pattern.
  • After the breakout, the stock surged upwards but was rejected near the 41 level.
  • Then the stock price resumed its downtrend until finding support near the 32 level.
  • Following a period of consolidation, the stock has now formed a Double Bottom pattern, suggesting a possible reversal in the trend.
  • With the neckline of the Double Bottom pattern broken, the price is poised to move upwards.

Tadawul 1140 : Bank Albilad - RSI

Tadawul 1140-Bank Albilad-RSI
Tadawul 1140 : Bank Albilad - RSI
  • Current RSI of this stock is 71.27, which indicates the strength of buyers.

Tadawul 1140 : Bank Albilad - MACD

Tadawul 1140 : Bank Albilad - MACD
  • MACD line has crossed the signal line from the below, generates bullish signal.

Tadawul 1140 : Bank Albilad - ADX & DI

Tadawul 1140 : Bank Albilad - 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.

CONCLUSION - Tadawul 1140 : Bank Albilad STOCK PRICE FORECAST

Based on our stock trading advice in Saudi Arabia, Bank Albilad stock price target will be SAR 38 – SAR 38.75 in the next 12-14 trading sessions.

Tadawul 1140 : Bank Albilad - TRADINGVIEW POSITION UPDATE

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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