Telecom Sector Momentum Builds: Key Stocks to Watch

Tadawul Telecommunication Services Index

• Following a historic peak near the 8,800 mark, the index has experienced a downturn and is currently undergoing a prolonged consolidation phase.
• This consolidation has resulted in the formation of a Rounding Bottom pattern.
• At present, the index is positioned just below the neckline of this Rounding Bottom, with expectations of a potential breakout approaching.

Key Stocks to Watch in the Telecommunication Sector

1.Saudi Telecom Company (Tadawul 7010)

• The stock has undergone a notable consolidation phase and is now on the brink of surpassing its trendline resistance.
• This expected breakout could propel the stock price upward.

2.Etihad Etisalat (Tadawul 7020)

• Following a successful breakout, the stock is currently trading slightly above the breakout level, setting the stage for further significant gains.