Jabal Omar Development Company: New Opportunities AheadJabal Omar Development Company, a leading real estate firm in Saudi Arabia, recently received approval to accommodate pilgrims, marking a significant milestone for the company. This approval is expected to boost the company's operations, particularly in the hospitality sector, catering to the influx of religious visitors.
The company's stock has seen a correction from SAR 30 and is currently anticipated to stabilize around SAR 22.5 to 21, presenting a promising new entry level for investors. This correction provides a strategic investment opportunity as the company leverages its new approval to drive growth and enhance shareholder value.
Investors should keep a close eye on Jabal Omar as it continues to capitalize on its prime location and regulatory advancements, potentially leading to substantial returns in the near future.
DR SAUD
SAUDI RESEARCH & MEDIA GROUP (4210)🚀 Stock Alert: SAUDI RESEARCH & MEDIA GROUP (4210)
📈 Investment View: Technically Bullish 📈
🔍 Quick Info 🔍
📈 Entry Range: 220
🎯 Targets : 270
⚠ Stop Loss: 200
⏳ Nature of Trade: Long Term (Swing)
📉 Risk & Reward Ratio: 1 : 2.50
📰 Technical View: In the preceding trading week, the price movement successfully breached the significant resistance level of 220 SAR, culminating in a notable total gain of 30.2 SAR (+14.60%) and concluding at 237 SAR. Additionally, the super trend indicator has signaled a bullish momentum within the weekly time frame, further corroborated by the confirmation provided by the MACD indicator. Looking ahead, the former peak at 270 SAR now functions as a resistance barrier, potentially prompting profit-taking activities. Conversely, there exists a possibility for the price to retest the 220 SAR level, transforming it into a support level, having previously served as resistance. To mitigate risks, a prudent approach involves placing a stop loss below the breach point of 200 SAR, as a reversal in momentum may occur subsequent to this breach.
4164Pull back from 0.5 (137 SAR) Fibonacci level is observed. Currently price is trading around 141.80 SAR. Resistance level lies around 151 from where selling can be expected. If is breaks and sustains then more upward can be expected. Use stop loss to manage risk below the support level of 137 SAR.
7203The price is currently testing 200 day EMA with the closing price of 842.4 in the last trading session. Moving forward, if this level sustains then a possible pull back can be seen in its price with the initial resistance lies around 954 and secondary resistance level lies around 1,003. Use stop loss at 815 just below the recent low.
4071The price action is currently near the test of ascending trend line after got rejection from 298.4 level where bearish divergence with RSI is observed and closes at 221.4 in the last trading session. Upon sustaining the trend line support price can pull back towards its resistance levels of 240. If it breaks down ward then further bearish momentum can be seen.
2281: At Support Level or Cup & Handle (Watchout)2281 is forming a cup and handle pattern on daily timeframe.
Volumes are low
However, Price is at a significant support line confluence with volume POC
A trendline support is respected in the past.
If the support confluence is respected, price will go up and touch the TP levels of 123
However, if it breaks down then there is a long bearish rally.
Watch out to take positions.
7010 IS STILL GOING DOWNLast week I posted not to buy 7010 since it is continuing its way down to fill the gaps we have in the market.
Now as you can see the market is approaching to the level it will pullback on, and that doesn't mean that it's time to buy since we must wait for some conditions to be met before we decide if we buy or no.
For more questions, don't hesitate to ask!
2060 Al Tasni Company Summary
2060 Al Tasni Company, currently priced at SAR 11.40, operates in the petrochemical manufacturing sector. The stock is forming a price range between SAR 11.10 and SAR 11.60, presenting a potential entry point for investors.
With a 52-week range of SAR 10.40 to SAR 15.50, the company has shown volatility influenced by market trends.
It maintains a robust balance sheet with healthy cash reserves and manageable debt. Recent financial results indicate consistent revenue and profitability.
Analysts rate the stock as a "Buy," with a 12-month price target of SAR 14.00 to 17.
A Key growth drivers include expansion plans, new product lines, and strategic partnerships. Investors should monitor global oil prices and regulatory changes in Saudi Arabia, while considering a stop loss at SAR 10 to manage risk.
A technical look at the stock chart for STC Saudi ArabiaTechnical analysis indicates that STC stock may decline soon
This decline confirms the formation of a negative technical pattern on the monthly and weekly frames, and it is expected to visit the area marked in white to complete the objectives of the descending wave. TADAWUL:7010
2381Arabian Drilling Company is in a down trend since 18th March' 2024. Currently it is testing its demand zone around 136 and RSI indicator is at over bought level and the doji candle formation is observed which indicates a bullish reversal from this level. Use stop loss below demand zone at 130. Initial resistance lies around 148 upon break and sustain secondary resistance lies around 156.