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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.
TADAWUL:2223Long
by KnightSway
Potential Breakout: Trading Idea for Al Etihaad (7040)"Al Etihaad (7040) is currently in an uptrend and has tested the resistance multiple times. This indicates a strong potential for a breakout soon. The formation of a triangle pattern further supports this possibility. Additionally, the above-average volume suggests increased interest in the stock. The current price is 172. If the breakout occurs, the first target price could be 192.8, followed by a second target price of 214.2. However, it’s crucial to monitor the stock closely for any changes in the trend or volume. It’s also important to consider other market factors and news related to Al Etihaad. Remember, this is just a trading idea based on the current technical analysis. Always do your own research and consider your risk tolerance before making any investment decisions." Please note that this is not financial advice and it’s important to do your own analysis before making any investment decisions. Investing in the stock market involves risk and it’s possible to lose your investment.
TADAWUL:7040Long
by KnightSway
1