SAUDI ARABIAN OIL CO.Long trade with positive ratio.
if you have any questions do not hesitate to contact me.
2222 trade ideas
Saudi Arabian Oil Co / AramcoMarhaba
Saudi Arabia stocks were lower after the close on Sunday, as losses in the Cement, Hotels & Tourism and Energy & Utilities sectors led shares lower. at the close in Saudi Arabia, the Tadawul All Share lost 0.17%.the best performers of the session on the Tadawul All Share were Wafrah for Industry and Development Company SJSC (TADAWUL:2100), which rose 5.74% or 1.75 points to trade at 32.25 at the close. Meanwhile Aramco couldn't break 32.40 now heading to lower level 31.50,as you see we still in down trend, the biggest support level for Aramco is 30$ and I think its one of the good buy zones too
Crude oil for March delivery was unchanged 0.00% or 0.00 to $80.11 a barrel. Elsewhere in commodities trading, Brent oil for delivery in March rose 1.74% or 1.46 to hit $85.49 a barrel, while the February Gold Futures contract rose 1.29% or 24.55 to trade at $1,923.35 a troy ounce.
Analyzing Current Downtrend and Strategic Trading Opportunity.Current Market Conditions
Saudi Aramco’s stock (2222.SR) has recently been showing a clear downward trend, closing at 28.20 SAR with a drop of 2.76%. This analysis aims to provide a comprehensive overview of the current technical indicators, patterns, and price action to forecast potential price movements and suggest strategic trading positions.
Candlestick Patterns and Price Action
The weekly candlestick chart reveals persistent bearish momentum. The latest candlestick pattern is a significant red candle, indicating strong selling pressure. The stock has been consistently making lower highs and lower lows, a clear indicator of a bearish trend.
Key Technical Indicators
1. Relative Strength Index (RSI): The RSI is at 23.04, which is deep in the oversold territory. This suggests that the stock is currently under heavy selling pressure, but it could also indicate a potential for a short-term rebound if buyers step in.
2. Stochastic Oscillator: The %K and %D lines are both below 20, further confirming the oversold condition. However, the lines have not yet crossed, suggesting that the bearish momentum may continue for a bit longer.
3. MACD (Moving Average Convergence Divergence): The MACD line is below the signal line, and both are in the negative territory, indicating that the bearish trend is well-established and likely to continue.
4. Moving Averages: All major moving averages (10, 20, 50, 100, 200) are indicating a sell. The stock price is below these moving averages, which act as resistance levels in the current downtrend.
5. Ichimoku Cloud: The price is well below the Ichimoku Cloud, and both the Conversion Line and Base Line are bearish, with the Leading Span A below Leading Span B, reinforcing the bearish outlook.
6. Awesome Oscillator and Momentum: Both indicators are showing negative values, indicating bearish momentum.
Market Sentiment and News
Recent news surrounding Saudi Aramco has been mixed, with market reactions to global oil price fluctuations and geopolitical tensions affecting investor sentiment. The bearish technical indicators align with broader market concerns, reflecting the overall negative sentiment.
Price Targets and Trading Strategy
Given the current technical setup, the stock appears to be in a strong downtrend. Here are the speculative price targets and suggested trading strategies:
Short Position: Enter a short position if the stock breaks below 28.00 SAR with a target price of 25.00 SAR, setting a stop loss at 29.00 SAR to manage risk.
Long Position: Consider a long position only if the stock shows a clear reversal signal, such as a bullish divergence in the RSI or a strong bullish candlestick pattern. Enter above 29.50 SAR with a target price of 32.00 SAR, and a tight stop loss at 28.00 SAR.
Conclusion
Based on the current analysis, Saudi Aramco’s stock is likely to continue its bearish trend in the short term. Traders should be cautious and look for confirmation signals before entering any positions. The suggested short and long strategies provide a balanced approach to capitalize on the stock’s movements while managing risk effectively. As always, stay updated with the latest news and market developments to adjust your trading strategy accordingly.
2222: SAUDI ARABIAN OIL CO. Probability of the end of downtrend as formation of ABCD Pattern is completed. Price may get range-bound or an uptrend can begin.
Watch out closely. Next week will clear the scenario.
DON'T BUY 2222Here as you can see on 2222, the price is still heading down and for now there's no indication that it will come back up, don't buy it and if you're holding in loss just sell and invest in stocks on which you will make profits.
For further questions, don't hesitate to ask!
SAUDI ARABIAN OIL (MAY 2024)as it is outlined in the chart the price is more likely to visit around the black line before collapsing to our target (outlined in the former post)
Saudi arabian oil monthly chartit is better to wait for the price to go to the outlined target for a good opportunity to buy
Buying AramcoBuy Aramco as described in the analysis provided and follow the steps specified in Stop Loss and Take Profit
2222: Buy ideaOn 2222 as you see on the chart we could have a big probability to have an uptrend if only if we have the breakout with force the vwap and the resistance line by a big green candle follow by a large green volume! Thanks!
SAUDI ARAMCO to buy confidentlyTADAWUL:2222 gave a high quality signal .
In fact it just closed above a decisive area . And so TADAWUL:2222 has a high probability to continue up towards the 45 level .
Stay tuned for possible updates .
Requests , suggestions and remarks are all welcomed .
Big move ahead for SAUDI ARAMCO TADAWUL:2222 entered a key level .
If it succeeds to break well above it ,it is very likely to go significantly up .
I will be posting further details in case of confirmation .
Aramco & dream of 60 Hy all,
perhaps in the coming days I will stop posting for personal reasons
so if you're going to miss me I'll be around for a while on the X app hehe
anyway, today we have a dream with Aramco
for a lot of time we were waiting for Aramco at higher prices
so maybe this is our chance to go ahead and make the dream come true
A technical look at the price of Saudi Arabian oil 2222The coming period may witness a decrease in demand for Saudi oil , which may lead to a decrease in its price.
It is expected to visit the area highlighted in white and visit the numbers shown.
TADAWUL:2222
2222 | Bullish Divergence SetupSaudi Arabian Oil Company displays a promising bullish reversal pattern characterized by the formation of bullish divergence with RSI. Our plan entails accumulating the stock within the designated buy zone (29.50-30 range), while setting stop loss orders below the bottom of support around 28.50. To guide our trading decisions, we've delineated two distinct targets: an immediate target around 33 at the test of trend line and a final target for exiting the trade will be around 35 depending upon break out.
Bullish Divergence on Daily TFDouble Bottom around 30
Safe Entry: Above 32.80
Target 35
Stoploss 30 (Closing basis)
Risky Players may take entry at CMP
with Stoploss 28.70 on Closing Basis
Saudi Arabian Oil Company (2222)Currently stock is trading downward and closed the day at 30.30. Looking ahead major demand zone resides at 30. Sustaining said area will trigger bounce. On the upside immediate resistance lies at 32 which bulls need to take out to gain control, doing so will lead it towards 34 and even 35. On the flip side close below 29 will invalidate the view.
2222 Aramco, Possible downtrend possible a downtrend to 26.35 technically, only if break down the orange trend line around 29.90
Bullish on Daily TFInvestment Checklist
14.42% Expected Annual Return
Based on 1 year median target stock price of SAR 34.49 and annual dividend yield of 3.88%
Very Low Risk
This stock is 0.39x as volatile as the KSA
3.88% Dividend Yield
This stock offers higher dividend yield compared to the market dividend yield of 2.27%
arabian oil tend to reverse upall the indication mentioned in the chart says that this market is getting ready to reverse up for what is coming
saoudi arabian oil *The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
DON'T BUY 2222Dear Saudi Traders and Investors,
Last week I posted that you still can't buy 2222 since it is heading down after that it pulled back on the resistance line at 32.10.
As I always tell you, don't buy stocks that will take your money. Get a consultation before you buy a stock. I get too mayn questions from people who bought at the wrong time an lost all their money.
Please don't buy wrong stocks.
In case you got any questions don't hesitate to ask!
DON'T BUY 2222Aramco (2222) is one of the stocks I recieve messages about from people who have bought and now they're in loss.
You can notice on the chart that the market is currently below the strong level we have at 32.10, for now there's nothing you can do about it unless your broker allows you to enter with short trades.
My private community and I cureently are not seeking to enter on 2222 and 1120 since all there are no buying opportunities on them, anyone who have bought in them will face losses during the next days.
Don't hesitate to ask if you got any questions!
SAUDI ARABIAN OILHello to all tradingview investors, according to my previous analysis I see a great opportunity with good probability, the details are reflected in the chart, greetings and good luck to al
