Tadawul 8030 : The Mediterranean and Gulf Insurance and Reinsurance vs TASI - Relative Strength Comparison

Tadawul 8030 : The Mediterranean and Gulf Insurance and Reinsurance - Technical Analysis (Daily)

• The price was consolidating in a box pattern before.
• After breaking out, the price surged sharply and reached its all-time high around 35.
• It then faced rejection and dropped sharply to around 22.
• But now, the price is moving up again and recently made a fresh breakout.
• A symmetrical triangle pattern has formed on the daily chart.
• With increasing volume, it's expected that the price may move up.

Tadawul 8030 : The Mediterranean and Gulf Insurance and Reinsurance - RSI Indicator

• Current RSI of this stock is 64.47, which indicates the strength of buyers.

Tadawul 8030 : The Mediterranean and Gulf Insurance and Reinsurance - MACD Indicator

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

Tadawul 8030 : The Mediterranean and Gulf Insurance and Reinsurance - OBV Indicator

• The OBV line is moving in the same upward direction which means there is a positive sentiment in the market. Also the significant price up move accompanying with increasing OBV volume suggests strong buying pressure.

Conclusion - Tadawul 8030 : The Mediterranean and Gulf Insurance and Reinsurance Stock Price Forecast

Based on our trading signals of Saudi stock market, The Mediterranean and Gulf Insurance and Reinsurance stock price target will be SAR 34 - SAR 35 in the next 14-15 trading sessions.