Tadawul trade advice (A): Saudi consumer discretionary distribution & retail stock | 7-8% gain | KSA stock trading picks on 22 May 2024

Stock Market

Tadawul, Saudi Arabia

Target hit. Trade closed.

22 Apr 2024
8 May 2024
9 May 2024
13 days
Loss per
100,000 SAR
Stop-loss
35.5
Buy Advice
22 Apr 2024
37 – 38
Target 1
8 May 2024
40.5
Target 2
9 May 2024
41
Profit per
100,000 SAR
13 days
10,811
35.5
37 – 38
40.5
41
10,811
22 Apr 2024
8 May 2024
9 May 2024
13 days
Loss per
100,000 SAR
Stop-loss
35.5
Buy Advice
22 Apr 2024
37 – 38
Target 1
8 May 2024
40.5
Target 2
9 May 2024
41
Profit per
100,000 SAR
13 days
10,811
35.5
37 – 38
40.5
41
10,811
  • Buy
  • Buy
    Range
  • Target
  • Stoploss
  • Upside
    Potential
  • Trade
    Duration
  • Saudi Company for Hardware
  • 37 – 38
  • 40.5 – 41
  • Below 35.5
  • 7% - 8%
  • 14 - 15 Days
  • Buy Saudi Company for Hardware
  • Buy
    Range
    37 – 38
  • Target 40.5 – 41
  • Stoploss Below 35.5
  • Upside
    Potential
    7% - 8%
  • Trade
    Duration
    14 - 15 Days
  • * Once the first target hit, reset the StopLoss at your buying price.
    * Trade durations are approximate; actual holding period may vary.

    Tadawul 4008 : Saudi Company for Hardware - Stock Overview

  • Tadawul code
  • Stock Name
  • Sector
  • 52 Weeks High
  • 52 Weeks Low
  • 4008
  • SACO
  • Consumer Discretionary Distribution & Retail
  • 45.7
  • 24.9
  • Tadawul code 4008
  • Stock Name SACO
  • Sector Consumer Discretionary Distribution & Retail
  • 52 Weeks High 45.7
  • 52 Weeks Low 24.9
  • Company profile

    Saudi Company for Hardware or SACO headquartered in Riyadh, Saudi Arabia, stands as a leading import, export, wholesale, and retail provider of home improvement products in Saudi Arabia, known for its extensive reach. With a robust presence in 19 cities across the Kingdom, SACO operates a total of 35 stores, including five expansive SACO World superstores. Spanning from 2,000 to 24,500 square meters, these retail spaces offer an impressive selection of over 45,000 diverse products. Its wide range of offerings includes automotive, bed and bath, building materials, electrical and power supplies, electrical appliances, furniture, hardware, houseware, lawn and garden, lighting, outdoors, paint and sundries, plumbing supplies and fixtures, sports and accessories, storage and organization, tools, and toys. The company operates through two main segments: Sales and Services, which focuses on selling goods to retail and wholesale customers, and Logistic Services, which provides logistics solutions such as freight forwarding, transportation, and contract logistics to clients.

  • Tadawul 4008 : Saudi Company for Hardware vs TASI - Relative Strength Comparison

    The image compares Saudi Company for Hardware's 1-year performance to TASI.
    Relative Performance - Last 1 Year
    SACO —   TASI —

  • Tadawul 4008 : Saudi Company for Hardware - Technical Analysis (Daily)

    Saudi Company for Hardware - Technical Analysis chart on Daily Price and Volume
    Saudi Company for Hardware - Technical Analysis chart on Daily Price and Volume

    • Previously, the price was moving downwards, through a parallel channel.
    • Price has made a low at near 25 level.
    • After that, price started moving upside slowly.
    • With a breakout of the previous resistance level, price has given a sharp upside move and reached at 46 level.
    • Then the price started consolidating and came back to the previous breakout zone to retest.
    • With the descent volume rise, price is currently moving upside.
  • Tadawul 4008 : Saudi Company for Hardware - EMA Crossover

    Saudi Company for Hardware stock analysis based on EMA Crossover
    Saudi Company for Hardware - EMA Crossover

    • The short length exponential moving average (5 EMA) has crossed the long length exponential moving average (10 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.

  • Tadawul 4008 : Saudi Company for Hardware - MACD Indicator

    Saudi Company for Hardware stock analysis based on MACD indicator
    Saudi Company for Hardware - MACD indicator

    • MACD line has just crossed the signal line from the below and a positive histogram chart is forming. This can be considered as a bullish signal.

  • Tadawul 4008 : Saudi Company for Hardware - OBV Indicator

    Saudi Company for Hardware stock analysis based on OBV indicator
    Saudi Company for Hardware - OBV indicator

    • The OBV line is moving in the same upward direction which means there is a positive sentiment in the market. Also the significant price up move accompanying with increasing OBV volume suggests strong buying pressure.

  • Conclusion - Tadawul 4008 : Saudi Company for Hardware Stock Price Forcast

    Based on our stock selection for KSA Tadawul, Saudi Company for Hardware stock price target will be SAR 40.5 - SAR 41 in the next 14-15 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.

    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.

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