Tadawul trade advice (A): Saudi utilities stock | 5-6% gain | KSA stock trading picks on 7 Aug 2024

Stock Market

Tadawul, Saudi Arabia

Target hit. Trade closed.

ACWA Power 2082

7 Aug 2024
18 Aug 2024
19 Aug 2024
8 days
Loss per
100,000 SAR
Stop-loss
355
Buy Advice
7 Aug 2024
375 – 385
Target 1
18 Aug 2024
405
Target 2
19 Aug 2024
410
Profit per
100,000 SAR
8 days
7,725
355
375 – 385
405
410
7,725
7 Aug 2024
18 Aug 2024
19 Aug 2024
8 days
Loss per
100,000 SAR
Stop-loss
355
Buy Advice
7 Aug 2024
375 – 385
Target 1
18 Aug 2024
405
Target 2
19 Aug 2024
410
Profit per
100,000 SAR
8 days
7,725
355
375 – 385
405
410
7,725
  • Buy
  • Buy
    Range
  • Target
  • Stoploss
  • Upside
    Potential
  • Trade
    Duration
  • ACWA Power
  • 375 – 385
  • 405 – 410
  • Below 355
  • 5% - 6%
  • 12 - 14 Days
  • Buy ACWA Power
  • Buy
    Range
    375 – 385
  • Target 405 – 410
  • Stoploss Below 355
  • Upside
    Potential
    5% - 6%
  • 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 2082 : ACWA Power - Stock Overview

  • Tadawul code
  • Stock Name
  • Sector
  • 52 Weeks High
  • 52 Weeks Low
  • 2082
  • ACWA Power
  • Utilities
  • 493.41
  • 172.46
  • Tadawul code 2082
  • Stock Name ACWA Power
  • Sector Utilities
  • 52 Weeks High 493.41
  • 52 Weeks Low 172.46
  • Company profile

    ACWA Power Company, founded in 2004, is a Saudi Arabian company that invests, develops, and maintains power generation, water desalination, and green hydrogen production plants in the Kingdom of Saudi Arabia and internationally. The company also sells electricity, desalinated water, and green hydrogen, installs and maintains contracts, provides financial advisory, book-keeping, tax compliance, and reinsurance services, and generates renewable energy from photovoltaic, concentrated solar power, wind plants, and hydrogen sources. ACWA Power Company was formerly known as International Company for Water and Power Projects.

  • Tadawul 2082 : ACWA Power vs TASI - Relative Strength Comparison

    The image compares ACWA Power's 1-year performance to TASI.
    Relative Performance - Last 1 Year
    ACWA POWER —   TASI —

  • Tadawul 2082 : ACWA Power - Technical Analysis (Daily)

    ACWA Power - Technical Analysis chart on Daily Price and Volume
    ACWA Power - Technical Analysis chart on Daily Price and Volume

    • The stock is experiencing a robust upward trend, consistently achieving higher highs and lows.
    • Throughout this upward trajectory, the stock price has developed several bullish patterns in succession.
    • Initially, a Symmetrical Triangle pattern formed, and following its breakout, the stock price soared before entering a consolidation period.
    • During this time, an Inverted Head & Shoulders pattern appeared, signaling the continuation of the upward movement.
    • Subsequently, a bullish Pole & Flag pattern emerged, propelling the price to an all-time high near the 493 mark after a breakout.
    • However, the stock encountered resistance, leading to a brief correction.
    • Afterward, the price attempted to rise again but struggled to break through its previous resistance, resulting in a decline.
    • In this phase, a Double Top pattern developed, indicating a bearish sentiment.
    • Despite this, the stock found support at the trendline and continued its ascent following the breakout of the Ascending Triangle pattern.
  • Tadawul 2082 : ACWA Power - MACD Indicator

    ACWA Power stock analysis based on MACD indicator
    ACWA Power - MACD indicator

    • MACD line has just crossed the signal line from the below, generates bullish signal.

  • Tadawul 2082 : ACWA Power - EMA Crossover

    ACWA Power stock analysis based on EMA Crossover
    ACWA Power - EMA Crossover

    • The short length exponential moving average (10 EMA) has crossed the long length exponential moving average (20 EMA) 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 2082 : ACWA Power Stock Price Forcast

    Based on our short term swing trading signals for Saudi Arabia, ACWA Power stock price target will be SAR 405 - SAR 410 in the next 12-14 trading sessions.

  • Share with
    0 0 votes
    Article Rating
    Subscribe
    Notify of
    guest
    0 Comments
    Inline Feedbacks
    View all comments

    Join Our Telegram Channel for Saudi Stock Market Update

    Saudi Stock Analysis

    Thumbnail of Prime Trading Advice - Saudi Arabia
    Thumbnail of Prime Trading Advice - Saudi Arabia
    Thumbnail of Prime Trading Advice - Saudi Arabia
    Thumbnail of Prime Trading Advice - Saudi Arabia
    Thumbnail of Prime Trading Advice - Saudi Arabia
    Thumbnail of Prime Trading Advice - Saudi Arabia
    Thumbnail of Prime Trading Advice - Saudi Arabia
    Thumbnail of Prime Trading Advice - Saudi Arabia

    Join Our Telegram Channel for USA Stock Analysis Update

    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.

    Arijit’s credentials are impressive, holding both the Chartered Market Technician (CMT) and Certified Financial Technician (CFTe) designations. These certifications demonstrate his expertise in technical analysis and financial markets.

    Through Naranj Capital, Arijit shares his market insights and research analysis, offering actionable advice for investors. His work is featured on platforms like TradingView, where he publishes detailed analysis and recommendations.

    If you’re interested in learning more about Arijit’s work or Naranj Capital’s services, you can reach out to them directly through their website