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SAUDI ARABIAN OIL CO.SS

SAUDI ARABIAN OIL CO.

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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.
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by moonypto
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.
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by AxiomEx
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.
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by mbaberhanif
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!
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by YassineAnalysis
3
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!
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by YassineAnalysis