Saudi Prime Trading Advice (D) | 02-Sep-2024 | Expected Gain 7%-8%

 BUY   Kingdom Holding (TADAWUL: 4280)

Tadawul 4280 : Kingdom Holding - STOCK RECOMMENDATION

Idea BUY
Buy Range 9.25 – 9.5
Target 10.2 – 10.3
StopLoss* below 8.75
Duration 8-10 Trading Days
Potential Returns 7% – 8%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 9.25 – 9.5 10.2 – 10.3 below 8.75 8-10 Trading Days 7% – 8%

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

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Tadawul 4280 : Kingdom Holding - STOCK OVERVIEW

Kingdom Holding Co. is involved in various sectors such as hotel management, commercial services, education, investment, and medical services. Its operations are organized into different business segments, namely Equity, Hotels, Real Estate, and All Other Healthcare. The Equity segment deals with investment securities listed on the Saudi stock exchange, international securities, private equities, managed funds, and other entities within the Group’s structure. The Hotels segment focuses on investments in subsidiaries and associates that manage and own hotel properties. The Real Estate segment entails investments in land ownership, development projects, and local entities. Lastly, the Healthcare and All Other segment oversees Kingdom school operations and other trading activities. Founded by Al-Waleed bin Talal bin Abdul Aziz bin Al-Saud, the company is headquartered in Riyadh, Saudi Arabia.

Stock Data
TADAWUL Code 4280
Sectoral Index Financial Services
52 Weeks High 10.58
52 Weeks Low 6.82

Tadawul 4280 : Kingdom Holding - RELATIVE STRENGTH

Tadawul 4280-Kingdom Holding-Relative Strength

Relative Performance - Last 1 Year

Kingdom Holding —     TASI —

Tadawul 4280 : Kingdom Holding - TECHNICAL ANALYSIS (DAILY)

Tadawul 4280-Kingdom Holding-Daily Technical Analysis
Tadawul 4280 : Kingdom Holding - Technical Analysis (Daily)
  • Following a significant drop, the stock price stabilized within a narrow range and eventually developed a Rounding Bottom pattern.
  • Once the pattern broke out, the price surged upward with considerable momentum but encountered a robust resistance near the 10.6 level, causing it to retreat back to the previous breakout level.
  • Trading volume has notably surged during this period.
  • After bouncing off the support level, the price is now on an upward trajectory.

Tadawul 4280 : Kingdom Holding - RSI

Tadawul 4280 : Kingdom Holding - RSI
  • Current RSI of this stock is 67.72, which indicates the strength of buyers.

Tadawul 4280 : Kingdom Holding - MACD

Tadawul 4280-Kingdom Holding-MACD
Tadawul 4280 : Kingdom Holding - MACD
  • MACD line has just crossed the signal line from the below, generates bullish signal.

Tadawul 4280 : Kingdom Holding - ADX & DI

Tadawul 4280-Kingdom Holding-ADX & DI
Tadawul 4280 : Kingdom Holding - 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 4280 : Kingdom Holding STOCK PRICE FORECAST

Based on our stock trading advice in Saudi Arabia, Kingdom Holding stock price target will be SAR 10.2 – SAR 10.3 in the next 08-10 trading sessions.

Tadawul 4280 : Kingdom Holding - 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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