Buy Al Yamamah Steel Industries | Tadawul 1304 | 7-9% gain | Saudi stock trading signal on 26 Feb 2024

Stock Market

Tadawul, Saudi Arabia

Target hit. Trade closed.

ALYAMAMAH STEEL 1304

26 Feb 2024
5 Mar 2024
5 Mar 2024
7 days
Loss per
100,000 SAR
Stop-loss
32
Buy Advice
26 Feb 2024
33.5 – 34
Target 1
5 Mar 2024
36.5
Target 2
5 Mar 2024
37
Profit per
100,000 SAR
7 days
10,448
32
33.5 – 34
36.5
37
10,448
26 Feb 2024
5 Mar 2024
5 Mar 2024
7 days
Loss per
100,000 SAR
Stop-loss
32
Buy Advice
26 Feb 2024
33.5 – 34
Target 1
5 Mar 2024
36.5
Target 2
5 Mar 2024
37
Profit per
100,000 SAR
7 days
10,448
32
33.5 – 34
36.5
37
10,448
  • Buy
  • Buy
    Range
  • Target
  • Stoploss
  • Upside
    Potential
  • Trade
    Duration
  • Al Yamamah Steel Industries
  • 33.5 – 34
  • 36.5 – 37
  • Below 32
  • 7% - 9%
  • 12 - 14 Days
  • Buy Al Yamamah Steel Industries
  • Buy
    Range
    33.5 – 34
  • Target 36.5 – 37
  • Stoploss Below 32
  • Upside
    Potential
    7% - 9%
  • Trade
    Duration
    12 - 14 Days
  • * Once the first target hit, reset the StopLoss at your buying price.
    * Trade durations are approximate; actual holding period may vary.

    Tadawul 1304 : Al Yamamah Steel Industries - Stock Overview

  • Tadawul code
  • Stock Name
  • Sector
  • 52 Weeks High
  • 52 Weeks Low
  • 1304
  • Alyamamah Steel
  • Materials
  • 34.55
  • 20.26
  • Tadawul code 1304
  • Stock Name Alyamamah Steel
  • Sector Materials
  • 52 Weeks High 34.55
  • 52 Weeks Low 20.26
  • Company profile

    Al Yamamah Steel Industries Company CJSC (formerly Al Yamamah Steel Industries Co) is a joint stock company, is headquartered in Riyadh, Saudi Arabia.

    The company manufactures metal products for the construction, electrical, and telecommunication sectors.

    Their products include longitudinally welded steel tubes, decorative steel tubes, steel sheets cutters, packaging straps and clips, road blocks, reinforcing steel bars, wheelbarrows, corrugated steel sheets, hollow steel pieces, cold rolled steel sections, steel space frames, galvanized steel lighting poles, and other related products.

    The company operates through different business units: Tubes, Poles, Towers.

  • Tadawul 1304 : Al Yamamah Steel Industries vs TASI - Relative Strength Comparison

    The image compares Alyamamah Steel's 1-year performance to TASI.
    Relative Performance - Last 1 Year
    ALYAMAMAH STEEL —   TASI —

  • Tadawul 1304 : Al Yamamah Steel Industries - Technical Analysis (Daily)

    Al Yamamah Steel - Technical Analysis chart on Daily Price and Volume
    Al Yamamah Steel - Technical Analysis chart on Daily Price and Volume

     

    • Price was trading in a broader range of 10 points from Oct’22 to Jan’24.
    • During this consolidation phase, price formed a Double Bottom pattern.
    • Volume was completely dried out during this consolidation period. But recently volume became very high as the price is getting close to the breakout zone.
    • After the breakout price made a high of 34.55.
    • With a short retracement price is moving upwards.
    • We will be seeing the price to achieve new heights in upcoming days.

     

  • Tadawul 1304 : Al Yamamah Steel Industries - RSI Indicator

    Al Yamamah Steel stock analysis based on RSI indicator
    Al Yamamah Steel - RSI indicator

    • The current RSI of the stock is 68.73, shows strength of buyers. RSI line is also in a uptrend, which is very positive signal.

  • Tadawul 1304 : Al Yamamah Steel Industries - ADX & DI Indicator

    Al Yamamah Steel stock analysis based on ADX & DI indicator
    Al Yamamah Steel - ADX & DI indicator

    • Increasing ADX value above 20, indicated the strength of the trend, thereby uptrending ADX confirms the bullish or bearish supportive decisions. Along with the rising ADX, and the +DI is above (or crossing) -DI, indicates the long trades should be favoured.

  • Tadawul 1304 : Al Yamamah Steel Industries - MA Crossover

    Al Yamamah Steel stock analysis based on MA Crossover
    Al Yamamah Steel - MA Crossover

    • The short length moving average (10 SMA) has crossed the long length moving average (20 SMA) from the below, generates bullish signal. Last day’s candle has closed above all these moving averages. This suggests buyers are taking interest in this stock.

  • Conclusion - Tadawul 1304 : Al Yamamah Steel Industries Stock Price Forcast

    Based on our short term trading of Saudi stocks, Al Yamamah Steel Industries stock price target will be SAR 36.5 - SAR 37 in the next 12-14 trading sessions.

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    Details of Arijit Banerjee

    Arijit Banerjee CMT CFTe is a seasoned expert in the financial industry, boasting decades of experience in trading, investment, and wealth management. As the founder and chief strategist of Naranj Capital, he’s built a reputation for providing insightful research analysis to guide investment decisions.

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