Tadawul 2120 : Saudi Advanced Industries vs TASI - Relative Strength Comparison

Tadawul 2120 : Saudi Advanced Industries - Technical Analysis (Daily)

• Price was trading in a range of 6 points and formed a Double Bottom Pattern.
• After the breakout, price was consolidating and moving upwards very slowly.
• From 34 level, price took a rejection and gave a downfall of about 28%.
• From this level, price started moving upside by making Higher Highs and Lows.
• Throughout this consolidation period, volume was comparatively less.
• A Rounding Bottom pattern can be observed at the chart, which indicates the trend will be continued.
• Now with a fresh breakout, price is moving upside further.
• Increase in volume suggests big players are taking position, which is very positive signal.
• We might expect a upmove from this level.

Tadawul 2120 : Saudi Advanced Industries - RSI Indicator

• Current RSI of this stock is 68.73, which indicates the strength of buyers.

Tadawul 2120 : Saudi Advanced Industries - MACD Indicator

• MACD line has crossed the signal line from the below and a positive histogram chart is forming. This can be considered as a bullish signal.

Tadawul 2120 : Saudi Advanced Industries - MA Crossover

• The short length moving average (10 SMA) has crossed the long length moving average (20 SMA) 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 2120 : Saudi Advanced Industries Stock Price Forcast

Based on our swing trade signals for Tadawul, Saudi Advanced Industries stock price target will be SAR 34 - SAR 34.5 in the next 10-12 trading sessions.