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Founded in 1955, Al-Babtain Power and Telecommunications Company, based in Riyadh, Saudi Arabia, produces lighting poles, power transmission towers, and accessories in the UAE, Saudi Arabia, and the Egyptian Arab Republic. The company operates in various sectors, including Towers and Metal Structures, Poles and Lighting, Design, Supply, and Installation, and Solar Energy. It produces power transmission towers, galvanized communication towers, street lighting lanterns, electricity distribution panels, and mobile metal components for solar photovoltaic energy tracking systems. The company also designs and produces poles, masts, and lanterns for lighting, manufactures decorative poles and LED lighting, and installs and maintains communication systems. It also provides wind energy networks, electrical and mechanical works, and oil and gas field services.
ALBABTAIN — TASI —
The short length exponential moving average (10 EMA) is about to cross the long length Exponential moving average (20 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.
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.
Based on our short term trading tips for Saudi Tadawul, Al-Babtain Power and Telecommunication stock price target will be SAR 60.5 - SAR 61 in the next 12-14 trading sessions.
