Tadawul trade advice (B): Saudi materials stock | 8-10% gain | KSA stock trading picks on 12 Feb 2024

Date

February 12, 2024

Analysed By

Naranj Capital Research Desk

Stock Market

Tadawul, Saudi Arabia

Target hit. Trade closed.

SPM 2300

12 Feb 2024

19 Feb 2024

25 Feb 2024

7 days

Loss per
100,000 SAR

Stop-loss

48.5

Buy Advice

12 Feb 2024

50 – 51

Target 1

19 Feb 2024

Target 2

25 Feb 2024

Profit per
100,000 SAR

7 days

8,911

48.5

50 – 51

8,911

12 Feb 2024

19 Feb 2024

25 Feb 2024

7 days

Loss per
100,000 SAR

Stop-loss

48.5

Buy Advice

12 Feb 2024

50 – 51

Target 1

19 Feb 2024

Target 2

25 Feb 2024

Profit per
100,000 SAR

7 days

8,911

48.5

50 – 51

8,911

Short Term Trading Advice in Saudi Arabia

Buy

Buy
Range

Target

Stoploss

Upside
Potential

Trade
Duration

Saudi Paper Manufacturing

50 – 51

54 – 55

Below 48.5

8% - 10%

12 - 14 Days

Buy Saudi Paper Manufacturing

Buy
Range 50 – 51

Target 54 – 55

Stoploss Below 48.5

Upside
Potential 8% - 10%

Trade
Duration 12 - 14 Days

Buy

Buy
Range

Target

Stoploss

Upside
Potential

Trade
Duration

Saudi Paper Manufacturing

50 – 51

54 – 55

Below 48.5

8% - 10%

12 - 14 Days

Buy

Saudi Paper Manufacturing

Buy
Range

50 – 51

Target

54 – 55

Stoploss

Below 48.5

Upside
Potential

8% - 10%

Trade
Duration

12 - 14 Days

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

* Trade durations are approximate; actual holding period may vary.

Tadawul 2300 : Saudi Paper Manufacturing - Stock Overview

Tadawul code

Stock Name

Sector

52 Weeks High

52 Weeks Low

2300

SPM

Materials

52.9

Tadawul code 2300

Stock Name SPM

Sector Materials

52 Weeks High 52.9

52 Weeks Low 25

Company profile

Saudi Paper Manufacturing Co. engages in the manufacture of tissue paper rolls, conversion of tissue paper rolls into facial, kitchen, and toilet tissue papers; and collection, sorting, transport, and press of waste papers. In addition, SPMC saves the environment and benefits the community through its interest in paper recycling and reducing its reliance on virgin pulp which is manufactured through the consumption of forest trees. The company was founded on November 13, 1989 and is headquartered in Dammam, Saudi Arabia.

Tadawul 2300 : Saudi Paper Manufacturing vs TASI - Relative Strength Comparison

The image highlights Saudi Paper Manufacturing's performance over the last year versus TASI. — Relative Performance - Last 1 Year
SPM — TASI —

Tadawul 2300 : Saudi Paper Manufacturing - Technical Analysis (Daily)

Saudi Paper Manufacturing - Technical Analysis chart on Daily Price and Volume

After a sharp rally, price had gone through a deep consolidation.
During that period a Bullish Cup & Handle pattern has been formed. With a strong breakout, price has been making Higher Highs and lows in order to maintain the trend.
Price is now trading at near 52 week high.

Tadawul 2300 : Saudi Paper Manufacturing - RSI Indicator

Saudi Paper Manufacturing stock analysis based on RSI indicator — Saudi Paper Manufacturing - RSI indicator

Current RSI of this stock is 70.29, shows strength of the trend.
The RSI line is also in a uptrend, which indicates, price is not intend to come down so easily.

Tadawul 2300 : Saudi Paper Manufacturing - MACD Indicator

Saudi Paper Manufacturing stock analysis based on MACD indicator — Saudi Paper Manufacturing - MACD indicator

MACD line is crossing the Signal line from the below generates strong bullish signal.

Tadawul 2300 : Saudi Paper Manufacturing - MA Crossover

Saudi Paper Manufacturing stock analysis based on MA Crossover — Saudi Paper Manufacturing - MA Crossover

Price has taken support at 10 SMA and closed above 10,20 SMA. This indicates that price has a positive momentum.

Conclusion - Tadawul 2300 : Saudi Paper Manufacturing Stock Price Forcast

Based on our swing trading advice for Saudi Tadawul, Saudi Paper Manufacturing stock price target will be SAR 54 - SAR 55 in the next 12-14 trading sessions.

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