Tadawul trade advice (A): Saudi capital goods stock | 9-10% gain | KSA stock trading idea on 19 Feb 2024

Stock Market

Tadawul, Saudi Arabia

Target hit. Trade closed.

19 Feb 2024
29 Feb 2024
29 Feb 2024
6 days
Loss per
100,000 SAR
Stop-loss
22
Buy Advice
19 Feb 2024
22.8 – 23.3
Target 1
29 Feb 2024
24.8
Target 2
29 Feb 2024
25.2
Profit per
100,000 SAR
6 days
9,280
22
22.8 – 23.3
24.8
25.2
9,280
19 Feb 2024
29 Feb 2024
29 Feb 2024
6 days
Loss per
100,000 SAR
Stop-loss
22
Buy Advice
19 Feb 2024
22.8 – 23.3
Target 1
29 Feb 2024
24.8
Target 2
29 Feb 2024
25.2
Profit per
100,000 SAR
6 days
9,280
22
22.8 – 23.3
24.8
25.2
9,280
  • Buy
  • Buy
    Range
  • Target
  • Stoploss
  • Upside
    Potential
  • Trade
    Duration
  • Middle East Specialized Cables
  • 22.8 – 23.3
  • 24.8 – 25.2
  • Below 22
  • 9% - 10%
  • 12 - 14 Days
  • Buy Middle East Specialized Cables
  • Buy
    Range
    22.8 – 23.3
  • Target 24.8 – 25.2
  • Stoploss Below 22
  • Upside
    Potential
    9% - 10%
  • 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 2370 : Middle East Specialized Cables - Stock Overview

  • Tadawul code
  • Stock Name
  • Sector
  • 52 Weeks High
  • 52 Weeks Low
  • 2370
  • MESC
  • Capital Goods
  • 23.72
  • 9.58
  • Tadawul code 2370
  • Stock Name MESC
  • Sector Capital Goods
  • 52 Weeks High 23.72
  • 52 Weeks Low 9.58
  • Company profile

    Middle East Specialized Cables is a leading company in the cable manufacturing industry. Headquartered in Riyadh, they specialize in production and sale of high-quality cables for various applications. With an impressive range of products from flexible electric, coaxial, rubber and nylon coated wires and cables, telephone cables for internal extensions, computer cables, safety to, anti-fire wires and cables and control and transmission of information cables, they have established a strong presence in the market. Their commitment to quality and innovation has positioned them as a trusted provider of reliable and efficient cable solutions. Middle East Specialized Cables has managed to maintain a solid reputation in Saudi Arabia and UAE.

  • Tadawul 2370 : Middle East Specialized Cables vs TASI - Relative Strength Comparison

    The image highlights Middle East Specialized Cables's performance over the last year versus TASI.
    Relative Performance - Last 1 Year
    MESC —   TASI —

  • Tadawul 2370 : Middle East Specialized Cables - Technical Analysis (Daily)

    Middle East Specialized Cables - Technical Analysis chart on Daily Price and Volume
    Middle East Specialized Cables - Technical Analysis chart on Daily Price and Volume

    • Looking at the price chart we can see that the price took a rejection from around 19.5 level and from there a correction can be seen, which has brought the price down to the 14.5 level.
    • After that price gave a sharp rally and broke its previous resistance and moved further to reach 23 level which was also its 52-week High.
    • But from there price moved downwards and made a correction which can be considered healthy for the stock.
    • Then price took support exactly from previous resistance which is also a trendline support level and bounced back from there.
    • An amazing Bullish Pole and Flag chart pattern can be observed which is indicating that the price is getting ready for the upmove.
    • Now with a fresh breakout, supported by the volume price is trading at 52-week High. More upside move possible if the price can manage to sustain above the level.
  • Tadawul 2370 : Middle East Specialized Cables - RSI Indicator

    Middle East Specialized Cables stock analysis based on RSI indicator
    Middle East Specialized Cables - RSI indicator

    • With an uptrending RSI of value 71.10, buyers are showing their strength.

  • Tadawul 2370 : Middle East Specialized Cables - MA Crossover

    Middle East Specialized Cables stock analysis based on MA Crossover
    Middle East Specialized Cables - MA Crossover

    • The short length moving average (10 SMA) has just crossed the long length moving average (20 SMA) from the below, generates a bullish signal.

  • Conclusion - Tadawul 2370 : Middle East Specialized Cables Stock Price Forcast

    Based on our swing trade signals for Tadawul, Middle East Specialized Cables stock price target will be SAR 24.8 - SAR 25.2 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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