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Tadawul

🚀 TASI surge 24% in 2023: Decoding the next move in 2024.Tadawul All Share Index (TADAWUL:TASI) 1) In the day chart we noticed that the Tadawul All Share Index has formed a head and shoulder pattern from April 2023 - September 2023 and a obvious neckline breakout marks the end of the H&S pattern. 2) At the end of H&S pattern we noticed a big red candle closed at 50% into the body of the previous green candle. This is a trend reversal sign known as Dark Cloud candles. 3) Since the August 2023 a sharp down trend consist with mostly the red candles. It signifies strong bearish momentum. TASI had fallen from 11933 to 10262, nearly 14% correction in a span of just 12 weeks. 4) We noticed the bullish flag pattern started forming since mid Nov 2023, where two parallel trendlines preceded by a flag pole which clearly indicates strong bull's presence in the index. 5) Dec 2023 onwards TASI started moving straight upward after flag pattern breakout and again forming a bullish flag pattern. Such back to back flag breakouts give prominent signal of long bullish run to be continue. Happy Trading! Cheers to this bull run!
TADAWUL:TASILong
by NaranjCapital
2200 (APCO) - Near 52-Week High & Potential Breakout SetupArabia Pipes Co. (2200) is currently trading near its 10-year resistance level, indicating a significant price threshold. The stock has been forming higher highs, a bullish trend that suggests an upward momentum. Interestingly, the stock price is only 1.2% away from its 52-week high, which could indicate a strong market sentiment towards this stock. The demand volume for this stock is high compared to its supply volume, which could lead to a price increase if this trend continues. Furthermore, the stock is trading above its 20-day moving average, another bullish signal for potential investors. In terms of financial performance, Arabia Pipes Co. has shown positive year-over-year (YoY) and quarter-over-quarter (QoQ) earnings results, which are all in green. This indicates a healthy and growing company. The first target price for this stock is 234.6, followed by a second target at 403. This suggests that there is a potential for significant price appreciation in the future. (for mid-term invertors) For short-term traders/swing traders, the potential take profits levels are marked. Given these factors, Arabia Pipes Co. could be a good mid-term holding stock compared to short term. However, as with all investments, it's important to do your own research and consider your own risk tolerance before making a decision. Happy investing! 🙂
TADAWUL:2200Long
by KnightSway
1
Potential Breakout: Saudi Aramco Base Oil Company - Luberef (222Saudi Aramco Base Oil Company - Luberef (2223) is making waves in the market! Trading near its all-time high and above all key moving averages, it’s showing strong signs of an upward trend. High volume activity indicates robust investor interest. The company has shown rapid earnings growth, up 51% a year for the past five years, indicating a strong future performance. With a first target of 166.8 and a second target of 184.8, it’s a stock to watch! Remember, always do your own analysis before investing.
2Long
by KnightSway
QUICK ANALYSIS ON 1322Dear Saudi Investors, I saw in a group long ago some people talking about buying 1322, last Friday when I checked the posts I found that most of them have bought and looking for a point where to close with minimal losses. The reason why I'm posting this is to tell you not to buy 1322 currently since the stock is still going down for months, so please don't put your money in stocks such as these and invest them in stocks in which you will make at least 10% of your investement. Before you put your money in a stock make sure to get a good consultation. The comment is all yours if you got any question!
TADAWUL:1322Short
by YassineAnalysis