BUY Electrical Industries (TADAWUL: 1303)

Aldrees Petroleum and Transport Services Company is involved in the distribution and sale of fuel, gasoline, oil, and lubricants in Saudi Arabia. This company operates through two segments, namely Petroleum Services and Transport Services. It offers a range of amenities at its fuel stations, including car wash, tire servicing, additives, alignment, accessories, food, mosque, ATMs, and even car rental services. Furthermore, Aldrees constructs, operates, and rents take away centers that serve hot and cold beverages, food, and also provides catering services. Additionally, the company provides transport and logistics services, utilizing a fleet of trucks and trailers for the transportation of liquid and dry materials. It also offers highway transportation for goods. Established in 1957, Aldrees Petroleum and Transport Services Company has its headquarters in Riyadh, Saudi Arabia.

Relative Strength

Relative Performance - Last 1 Year

Technical Analysis (Daily)

Tadawul 4200 : Aldrees Petroleum and Transport Services - Technical Analysis (Daily)

• The price previously faced rejection multiple times around the 106 level.
• Subsequently, the stock price declined and entered a consolidation phase and developed a Rounding Bottom pattern.
• After breaking out, the stock surged sharply, reached an all-time high near the 145 level.
• At this peak, it encountered resistance, resulted in a swift drop
• Once the price stabilized, it attempted to break through the previous resistance again but fell short, leading to a significant correction.
• Ultimately, the stock found support around the 106 level.
• Following a short consolidation period, the stock formed a Double Bottom pattern and recently broke through the trendline resistance, bolstered by substantial trading volume.
• It is expected that this upward trend will continue.

Indicator MACD

Tadawul 4200 : Aldrees Petroleum and Transport Services - MACD

Indicator EMA Cross

Tadawul 4200 : Aldrees Petroleum and Transport Services - EMA Cross

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

RSI

Tadawul 4200 : Aldrees Petroleum and Transport Services - RSI

• Current RSI of this stock is 64.44, which indicates the strength of buyers.

Stock Price Forecast

Based on our stock trading advice in Saudi Arabia, Aldrees Petroleum and Transport Services stock price target will be SAR 128 — SAR 130 in the next 12-14 trading sessions.

Tradingview Position Update

by NaranjCapital on TradingView.com

Money management and trading rules

1. It's advisable to enter/exit in the recommended range.
2. Strictly follow the StopLoss as mentioned. Honour it.
3. Use trailing StopLoss to retain profits.
4. Diversify trading capital into our other trading recommendations.
5. Risk only the money what you can afford to lose. Hedge accordingly.

Advisor / analyst summary

The stock trading advice is prepared by the Naranj Capital team under the guidance of Arijit Banerjee, CMT, CFTe. Arijit is a veteran trader and an active investor having in-depth knowledge of financial market research, advanced technical analysis, market cycle, algorithmic trading, and portfolio management. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the global authority of Technical Analysis and also has been honored as a Certified Financial Technician (CFTe) by the International Federation of Technical Analysts, USA.

DISCLOSURE

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.