Tadawul 8300 : Wataniya Insurance vs TASI - Relative Strength Comparison

Tadawul 8300 : Wataniya Insurance - Technical Analysis (Daily)

• The price created an Inverted Head & Shoulder pattern and stayed stable.
• Following the breakout, the price rose and then consolidated to form a bullish Pole & Flag pattern.
• After breaking out, the price couldn't maintain above the breakout point and dropped.
• Later on, the price discovered support around 25 and began to climb.
• The price then formed another Inverted Head & Shoulder pattern and successfully broke out with good volume.
• It is expected that the price could continue to rise and reach new highs.

Tadawul 8300 : Wataniya Insurance - RSI Indicator

• The current RSI of the stock is 75.81, shows strength of buyers.

Tadawul 8300 : Wataniya Insurance - 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 8300 : Wataniya Insurance - MACD Indicator

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

Conclusion - Tadawul 8300 : Wataniya Insurance Stock Price Forecast

Based on our swing trading advice for Saudi Tadawul, Wataniya Insurance stock price target will be SAR 35.5 - SAR 36 in the next 12-14 trading sessions.