Tadawul trade advice (B): Saudi real estate stock | 7-8% gain | KSA stock trading signal on 10 Jun 2024

Tadawul 4090 : Taiba Investments vs TASI - Relative Strength Comparison

Tadawul 4090 : Taiba Investments - Technical Analysis (Daily)

• During a significant consolidation period, a Double Bottom pattern emerged in the price action.
• Following the breakout, there was a strong upward rally.
• A bullish Pennant pattern has now formed on the chart, signaling a positive outlook.
• With a powerful breakout, the price is continuing its upward momentum and has reached a 52-week high at 48.
• However, there was a sharp correction bringing the price down to 38.
• Nevertheless, the price has started moving upwards once more and is anticipated to sustain its upward trajectory.

Tadawul 4090 : Taiba Investments - 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 4090 : Taiba Investments - EMA Crossover

• The short length exponential moving average (10 EMA) is about to cross 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.

Tadawul 4090 : Taiba Investments - 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 4090 : Taiba Investments Stock Price Forcast

Based on our Saudi stocks trading calls, Taiba Investments stock price target will be SAR 44.5 - SAR 45 in the next 14-15 trading sessions.