- Naranj Research Desk
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Arabian Pipes Company (APC) is a Saudi Joint Stock Company that specializes in manufacturing and marketing welded steel pipes for various industries, including oil, gas, petrochemical, agricultural, and construction. The company was established in 1991 with a capital of SR 400 million and total investments of about SR 1200 million. APC produces electric resistance welded pipes, high-frequency welded pipes, longitudinal submerged arc welded pipes, external coating, threading and coupling line, and coil slitting facility . The company owns and operates two factories, one in Riyadh and the other in Jubail industrial city. APC has secured a significant supply deal with international contractor Br. C A T International.
APC — TASI —
Last two days, the stock is trading above the 15 days MA and recent closing above the Upper Bollinger Band showing confidence of our view.
The momentum indicator MACD is also suggesting a big upside in the stock. From the last few weeks, serious delivery buying was seen in the stock with positive price action which indicates big upside for a short term point of view.
Based on our stock trading advice in Saudi Arabia, Arabian Pipes stock price target will be SAR 122 - SAR 126 in the next 12-14 trading sessions.
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Analyst Summary
The research analysis is prepared by Arijit Banerjee, CMT, CFTe. He is a veteran trader and an active investor having in-depth knowledge in financial market research, advanced technical analysis, market cycle, algorithmic trading and portfolio management. Arijit is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts, USA.
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.
