Tadawul 7203 : Elm Co. vs TASI - Relative Strength Comparison

Tadawul 7203 : Elm Co. - Technical Analysis (Daily)

• Previously, the stock price exhibited a Rounding Bottom pattern, and following a breakout, it achieved an all-time high of SAR 1125.
• However, the price encountered significant resistance at this level, led to a consolidation phase, during which it formed another Rounding Bottom pattern.
• With a recent breakout, the price is now attempting to sustain an upward trajectory.

Tadawul 7203 : Elm Co. - RSI Indicator

• Current RSI of this stock is 77.24, which indicates the strength of buyers.

Tadawul 7203 : Elm Co. - 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 7203 : Elm Co. - EMA Crossover

• The short length exponential moving average (10 EMA) has crossed 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.

Conclusion - Tadawul 7203 : Elm Co. Stock Price Forecast

Based on our Saudi stock trading ideas, Elm Co. stock price target will be SAR 1175 - SAR 1185 in the next 12-14 trading sessions.