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Emaar the Economic City, is headquartered in Jeddah, Saudi Arabia. EEC is a Tadawul-listed Saudi Arabian public joint-stock company established in 2006 and is 25% owned by the Public Investment Fund (PIF). KAEC is an emerging city located on the Red Sea coast of Saudi Arabia. It is anchored by King Abdullah Port, known as the most efficient port in the world. KAEC Industrial Valley focuses on logistics and light manufacturing, with over 100 multinational and Saudi companies already established there. The city is well-connected to transportation networks, including the Haramain high-speed railway and Saudi National Highways. KAEC offers a leisure and tourism district with coastline, hotels, and a golf course. In 2021, the city welcomed over 1 million visitors and has residential communities for full-time residents and second homeowners. KAEC aligns with Saudi Arabia’s Vision 2030 initiatives, contributing to objectives such as attracting foreign investment, developing tourism, creating jobs, and promoting non-oil exports.
EMAAR EC — TASI —
The short length moving average (15 EMA) has crossed the long length moving average (30 EMA) from the below, generates bullish signal. Last day’s candle has closed above all these moving averages. This suggests buyers are taking interest in this stock.
From the volume profile image, we can see that the highest volume is organising at current level, which gives a positive indication.
Based on our Saudi stocks trading advice, Emaar The Economic City stock price target will be SAR 8.4 - SAR 8.5 in the next 10-12 trading sessions.
