Tadawul 4150 : Arriyadh Development vs TASI - Relative Strength Comparison

Tadawul 4150 : Arriyadh Development - Technical Analysis (Daily)

• The stock went through a period of consolidation and developed an Inverted Head & Shoulder pattern.
• After breaking out of this pattern, the price rose, but then entered another consolidation phase and formed a Symmetrical Triangle pattern.
• After breaking out of the triangle, the stock price surged upwards but failed to maintain its uptrend and was rejected near the 26 level.
• Eventually, the price found support near the 21 level and formed a Double Bottom pattern.
• Recently, the stock price broke through the pattern with strong volume support and remained above the breakout zone.
• It is anticipated that the price may continue to rise from its current level.

Tadawul 4150 : Arriyadh Development - RSI Indicator

• Current RSI of this stock is 72.89, which indicates the strength of buyers.

Tadawul 4150 : Arriyadh Development - ADX & DI Indicator

• 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.

Tadawul 4150 : Arriyadh Development - MACD Indicator

• MACD line has just crossed the signal line from the below, generates bullish signal.

Conclusion - Tadawul 4150 : Arriyadh Development Stock Price Forecast

Based on our Saudi Tadawul stock trading advice, Arriyadh Development stock price target will be SAR 25 - SAR 25.5 in the next 14-15 trading sessions.