Tadawul 8120 : Gulf Union Alahlia Cooperative Insurance vs TASI - Relative Strength Comparison

Tadawul 8120 : Gulf Union Alahlia Cooperative Insurance - Technical Analysis (Daily)

• The stock is clearly on an upward trajectory.
• During this upward movement, the stock price previously took the shape of an Ascending Triangle pattern.
• After breaking out, the stock price rose but then faced resistance and fell.
• Subsequently, there was a period of consolidation leading to the formation of a Rounding Bottom pattern.
• With another breakout, the stock price consolidated in the form of a Rectangle pattern.
• After breaking out again, the stock price surged and formed a Triple Top pattern.
• Following the break of the neckline, we witnessed a decline in the price.
• The stock is holding onto its trendline support, bouncing off that level and currently moving upwards with a significant increase in volume.

Tadawul 8120 : Gulf Union Alahlia Cooperative Insurance - RSI Indicator

• Current RSI of this stock is 69.55, which indicates the strength of buyers.

Tadawul 8120 : Gulf Union Alahlia Cooperative 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 8120 : Gulf Union Alahlia Cooperative Insurance - MACD Indicator

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

Conclusion - Tadawul 8120 : Gulf Union Alahlia Cooperative Insurance Stock Price Forecast

Based on our trading tips for Saudi Tadawul stocks, Gulf Union Alahlia Cooperative Insurance stock price target will be SAR 92.5 - SAR 94 in the next 12-14 trading sessions.