Tadawul trade advice (C): Saudi software & services stock | 7-8% gain | KSA stock trading idea on 15 Jul 2024

Stock Market

Tadawul, Saudi Arabia

Target hit. Trade closed.

15 Jul 2024
5 Aug 2024
14 Aug 2024
8 days
Loss per
100,000 SAR
Stop-loss
840
Buy Advice
15 Jul 2024
870 – 885
Target 1
5 Aug 2024
945
Target 2
14 Aug 2024
955
Profit per
100,000 SAR
8 days
9,518
840
870 – 885
945
955
9,518
15 Jul 2024
5 Aug 2024
14 Aug 2024
8 days
Loss per
100,000 SAR
Stop-loss
840
Buy Advice
15 Jul 2024
870 – 885
Target 1
5 Aug 2024
945
Target 2
14 Aug 2024
955
Profit per
100,000 SAR
8 days
9,518
840
870 – 885
945
955
9,518
  • Buy
  • Buy
    Range
  • Target
  • Stoploss
  • Upside
    Potential
  • Trade
    Duration
  • Elm Company
  • 870 – 885
  • 945 – 955
  • Below 840
  • 7% – 8%
  • 14 - 16 Days
  • Buy Elm Company
  • Buy
    Range
    870 – 885
  • Target 945 – 955
  • Stoploss Below 840
  • Upside
    Potential
    7% – 8%
  • Trade
    Duration
    14 - 16 Days
  • * Once the first target hit, reset the StopLoss at your buying price.
    * Trade durations are approximate; actual holding period may vary.

    Tadawul 7203 : Elm Company - Stock Overview

  • Tadawul code
  • Stock Name
  • Sector
  • 52 Weeks High
  • 52 Weeks Low
  • 7203
  • Elm
  • Software & Services
  • 1125
  • 622.4
  • Tadawul code 7203
  • Stock Name Elm
  • Sector Software & Services
  • 52 Weeks High 1125
  • 52 Weeks Low 622.4
  • Company profile

    Elm Company delivers off-the-shelf and personalized digital solutions in Saudi Arabia. It provides technical services, online portals, electronic applications, and associated support operations, along with comprehensive technology business solutions to clients across both public and private sectors. Additionally, the company offers business process outsourcing services and expert advisory services in data analysis and artificial intelligence. Originally known as Al-ELM Information Security Company, Elm Company is currently headquartered in Riyadh, Saudi Arabia.

  • Tadawul 7203 : Elm Company vs TASI - Relative Strength Comparison

    The image compares Elm's 1-year performance to TASI.
    Relative Performance - Last 1 Year
    ELM —   TASI —

  • Tadawul 7203 : Elm Company - Technical Analysis (Daily)

    Elm - Technical Analysis chart on Daily Price and Volume
    Elm - Technical Analysis chart on Daily Price and Volume

    • Upon examining the daily chart, it is evident that the stock is experiencing an upward trend.
    • During this upward movement, the price displayed an Inverted Head & Shoulder pattern and underwent a consolidation phase.
    • Following a breakout, the price ascended within a parallel channel.
    • Subsequently, the stock formed several bullish chart patterns consecutively.
    • Initially, a pennant pattern emerged, succeeded by an ascending triangle pattern.
    • After another breakout, the stock consolidated in a Rounding Bottom pattern.
    • The price then surged to reach a record high around the 1,125 level.
    • Following a correction, the price is currently attempting to resume its upward trajectory to sustain the uptrend.
  • Tadawul 7203 : Elm Company - RSI Indicator

    Elm Company stock analysis based on RSI indicator
    Elm Company - RSI indicator

    • Current RSI of this stock is 62.36, which indicates the strength of buyers.

  • Tadawul 7203 : Elm Company - ADX & DI Indicator

    Elm Company stock analysis based on EMA Crossover
    Elm Company - 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.

  • Tadawul 7203 : Elm Company - MACD Indicator

    Elm Company stock analysis based on MACD indicator
    Elm Company - MACD indicator

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

  • Conclusion - Tadawul 7203 : Elm Company Stock Price Forcast

    Based on our Saudi Stocks Trading Guidance, Elm Company stock price target will be SAR 945 - SAR 955 in the next 14-16 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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    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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