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Bullish on 4031 - Saudi Ground Services Co.I am bullish on 4031, a company that provides ground handling services to airlines in Saudi Arabia. The stock is in a strong uptrend, as shown by the higher highs and higher lows on the daily chart. - The stock has recently broken above a trend line resistance that was acting as a barrier since November 2023. It is also trading above the key moving averages of 50, 100, and 200 days, indicating a positive momentum and trend strength. - I think a good entry point would be around 42 SAR, if the stock retraces to test the trend line support or the 50-day moving average. This would offer a favorable risk-reward ratio and a potential upside of about 20% to the recent high of 50.4 SAR. - I would place a stop loss below the trend line support or the 100-day moving average, whichever is lower, to protect my capital in case of a reversal. I would also monitor the volume and the RSI for confirmation of the bullish trend and the breakout. - This is my personal opinion and not a financial advice. Please do your own research and analysis before investing. Happy trading! 😊
TADAWUL:4031Long
by KnightSway
Sumou Real Estate Co at resistance levelsFollowing a significant upward movement that commenced on January 24, 2024, with a breakthrough of the price at 44.6, the stock prices have reached previous levels, averaging at a price of 55. This suggests that the stock prices will encounter historical resistance levels within the range of 55 to 61. Consequently, a correction down to 49.7 may be observed. Nevertheless, it is important to note that we are currently experiencing an ongoing uptrend, and there are no indications of an imminent downtrend in the near future. However, if the prices fail to surpass the 55 price level and remain within this range, we may witness a sideways movement for an extended period. However, it is important to consider the risk-to-return ratio before taking any position. Assessing the potential risk and potential reward is crucial in making informed trading decisions. It's worth noting that the analysis provided is based on the information given and assumes the accuracy of the mentioned technical indicators. However, market conditions can change rapidly, and it's always important to conduct comprehensive and up-to-date analysis before making any investment decisions.
TADAWUL:4323Long
by JR-HUB
NADEC has shown weakness and formed a top H&Ss NADEC has just formed a top H&Ss though its neckline is slightly up-slanted which some chartists don't take for consideration. It still follows most of the formation principles such as the spike in volume corresponding head and the shoulders. To sum up my readings which could be wrong sometimes. weaknesses: 1- parabolic move is broken down! see the arrow in chart 2- Within the major H&Ss formation, a minor "right angle triangle" is formed which in many cases is bearish considering the decreasing heights. 3- Corrective Wave III is on the run and it is usually very very aggressive. strength: 1. Fundamentally, the company has improved its net-profit. 2. Corrective wave C is formed and either it goes on or revers but usually the latter. I don't mean to bore you with my analysis, but if you want to short it, wait till the yellow-highlighted support as seen in chart is broken down with some volume then you get the confirmation.
TADAWUL:6010Short
by gamall1987