Prime Trading Advice (D) | Expected Gain 5-6% | Naranj Capital

 BUY   Allied Cooperative Insurance (TADAWUL: 8150)

Tadawul 8150 : Allied Cooperative Insurance - STOCK RECOMMENDATION

Idea BUY
Buy Range 18.8 – 19.3
Target 20.3 – 20.5
StopLoss* below 18.2
Duration 10-12 Trading Days
Potential Returns 5 – 6%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 18.8 – 19.3 20.3 – 20.5 below 18.2 10-12 Trading Days 5 – 6%

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

Our recommendations are authentic and transparent. Find this recommendation posted in Tradingview and Social Media. Be assured such records are permanent and irreversible.

Tadawul 8150 : Allied Cooperative Insurance - STOCK OVERVIEW

Allied Cooperative Insurance Group is headquartered in Riyadh, Saudi Arabia, operates in the cooperative insurance sector and engages in related activities within the Kingdom of Saudi Arabia. The company provides various insurance products, including medical, motor, property, engineering and contract works, and marine insurance. It also offers additional coverage options such as worker’s compensation, product liability, commercial general liability, and general accident insurance, which includes travel insurance. Furthermore, the company provides third-party liability and comprehensive motor retail and motor fleet insurance products. Additionally, Allied Cooperative Insurance Group offers general accident quota share and surplus, travel quota share, property quota share and surplus, and marine quota share and surplus.

Stock Data
TADAWUL Code 8150
Sectoral Index Insurance
52 Weeks High 19.58
52 Weeks Low 10.94

Tadawul 8150 : Allied Cooperative Insurance - RELATIVE STRENGTH

Tadawul 8050-Allied Cooperative Insurance-Relative Strength

Relative Performance - Last 1 Year

Allied Cooperative Insurance —     TASI —

Tadawul 8150 : Allied Cooperative Insurance - TECHNICAL ANALYSIS (Daily)

Tadawul 8050-Allied Cooperative Insurance-Daily Technical Analysis
Tadawul 8150 : Allied Cooperative Insurance - Technical Analysis (Daily)
  • We have witnessed a strong downfall in the price.
  • Finally the price found its support at near 11 level and started moving upside slowly.
  • By forming Higher Highs and Lows, price indicated that the trend has changed.
  • During this consolidation phase, price has formed a Rounding Bottom pattern.
  • With a strong bullish candle, price successfully break through the previous resistance zone.
  • Then the price started consolidating and with a fresh breakout, supported by the volume price is trying to move upside.

Tadawul 8150 : Allied Cooperative Insurance - RSI

Tadawul 8150 : Allied Cooperative Insurance - RSI
  • Current RSI of this stock is 68.19, which indicates the strength of buyers.

Tadawul 8150 : Allied Cooperative Insurance - MACD

Tadawul 8050-Allied Cooperative Insurance-MACD
Tadawul 8150 : Allied Cooperative Insurance - MACD
  • MACD line is about to cross the signal line from the below, generates bullish signal.

Tadawul 8150 : Allied Cooperative Insurance - ADX & DI

Tadawul 8050-Allied Cooperative Insurance-ADX & DI
Tadawul 8150 : Allied Cooperative Insurance - 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 8150 : Allied Cooperative Insurance STOCK PRICE FORECAST

Based on our stock trading advice in Saudi Arabia, Allied Cooperative Insurance stock price target will be SAR 20.3 – SAR 20.5 in the next 10-12 trading sessions.

Tadawul 8150 : Allied Cooperative Insurance - 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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