1120 AL RAJHI BANK (TADAWUL-KSA) 09-JUNE-20251120 AL RAJHI BANK
Al Rajhi Bank's stock was previously in an uptrend, completing its spike and channel phase before entering a corrective mode since March 2025. Despite a recent unexpected upward move, the stock is still expected to face resistance at two bearish institutional flipped supply zones:
- SAR 95.6
- SAR 98.5
These supply zones & Liquidity Distribution Thresholds are likely to cap the upward movement, and the stock is expected to resume its downward correction. Potential downside target is around SAR 76, near the base of the previous uptrend channel.
Given the current technical setup, we stick to our previous stance and recommend avoiding Long Position in this stock until it breaks above both bearish supply zones/levels as indicated on Chart.
4240 FAWAZ ABDULAZIZ ALHOKAIR ANALYSISFAWAZ ABDULAZIZ ALHOKAIR was in downtrend from 2021-2024. Then it showed reversal with supported Volume Gradient.
It gave a Spike and is trending in a classical Stair-Stepped trend (blue and yellow channels). If you look at the yellow channel, you can spot SPRG Liquidity Sweep and SOS (Sign of Strength) – followed by an upward leg which trigged Breakout.
It retested breakout at breakout level. But wile plotting a HH, it has created an Up-thrust and there is a strong immediate resistance at 18.92 – right above the current price (17.92).
These two reasons suggest Long Trade should be avoided or should only be taken for a small gain till Target of 18.9 SAR or max 20 SAR.
If it breaks out of 20 SAR price range, it can expose new trades for further targets.
Though Bearish in Trend, but ..
Closed at 23.38 (03-06-2025)
Though Bearish in Trend, but Strong
Bullish Divergence appearing.
Currently at Important Support level.
Very near Stoploss level; around 23.20
on Closing basis.
If this level is not broken, we may
witness reversal towards 24 & then around
25 - 27.
Bullish divergence on daily tf.
Closed at 26 (03-06-2025)
Bullish divergence on daily tf.
Weekly closing above 26.40 - 27 would
be a positive sign.
If this resistance is crossed with good
volumes, we may witness 29 - 30 initially.
On the flip side, closing below 23.70 would
bring more selling pressure.
6001:HALWANI BROS. AT IMPORTANT PRICE LEVEL6001: HALWANI BROS is currently at an important price level in the weekly timeframe.
The price range of 43.2-42.9 (fib level of 0.786) has historically been tested 2 times earlier as well. Phenomenal bounce in price can be observed whenever price reached at this level.
Also note that RSI indicator is heading towards oversold range (less than 30) same as recorded on 11th Dec 2022 and 29th Oct 2023.
Hope the price does the same this time around.
Best of Luck!!
Bullish Flag Pattern on Bigger tf + Bullish Divergence
Closed at 60.50 (02-06-2025)
Bullish Flag Pattern on Bigger tf + Bullish Divergence
is there.
54.50 - 62.50 is an Important Support
Zone. If this level is Sustained, we may
witness further upside towards 70-71.
A very Important Resistance Level is around 90-92
which if Crossed with Good Volumes, may expose
new highs.
On the flip side, breaking 51 may bring more selling
pressure.
1150 IS PUSHING LOWERBack in January, I posted to buy 1150, but the market managed to take the opposite direction tp come lower and lower due to the conditions we currently have.
Now the price is pushing towards the level 24.24, we'll see how it will act around the level, but probably it will break through it and reach the next level at 21.92.
So for now don't buy anything on 1150.
Meanwhile, there's a golden opportunity for those who wants to learn how to trade Saudi Market, since it is in a level where you have all the possible configuration you'll face while running low.
Let me know if you got further questions!
2010 WILL GO FURTHER LOWER2 Months ago, I posted that 2010 will go lower but some of you didn'tlisted and contacted me saying that it won't. As usual, time proves who's right and who's wrong.
Now as you can notice on the chart, the price reached the point I told you and went further lower, now we're looking for it to reach 49.60.
DON'T BUY FOR NOW!
Meanwhile, there's a golden opportunity for those who wants to learn how to trade Saudi Market, since it is in a level where you have all the possible configuration you'll face while running low.
Let me know if you got further questions!
A TRADE WE'RE HOLDING We've been holding this trade on 2040 for a month now in which we're doing great so far despite the Market slow movement.
The entry on this trade is based on liquidity and market gaps in case you wondered!
Meanwhile, there's a golden opportunity for those who wants to learn how to trade Saudi Market, since it is in a level where you have all the possible configuration you'll face while running low.
Let me know if you got further questions!
1120 IS GOING TOWARDS 82.6AL Rajhi is one of the stocks most of people buy,
I have read in a group yesterday that it's a golden oppoertunity to buy it now, but if we have a look at the chart, we'll see the opposite, the price just made a reversal as you can see, now it is heading towards 82.6 AT LEAST , don't rush and buy it, instead wait for the oprimal entry to take.
Meanwhile, there's a golden opportunity for those who wants to learn how to trade Saudi Market, since it is in a level where you have all the possible configuration you'll face while running low.
Let me know if you got further questions!
A TRADE I SHARED WITH MY CLIENTSI'm sharing with you this trade I gave to my clients which is still at the red side, we entered based on lots of criteria and we're waiting for the market now to do its job.
Note:
Tha market is slow and running low since we all know TASI is coming lower and lower, for now we could catch the 3 trades we have on Saudi Market, we'll hold them for the couple next months.
Meanwhile, there's a golden opportunity for those who wants to learn how to trade Saudi Market, since it is in a level where you have all the possible configuration you'll face while running low.
Let me know if you got further questions!