Arabia Pipes Co. (2200) is currently trading near its 10-year resistance level, indicating a significant price threshold. The stock has been forming higher highs, a bullish trend that suggests an upward momentum.
Interestingly, the stock price is only 1.2% away from its 52-week high, which could indicate a strong market sentiment towards this stock.
The demand volume for this stock is high compared to its supply volume, which could lead to a price increase if this trend continues. Furthermore, the stock is trading above its 20-day moving average, another bullish signal for potential investors.
In terms of financial performance, Arabia Pipes Co. has shown positive year-over-year (YoY) and quarter-over-quarter (QoQ) earnings results, which are all in green. This indicates a healthy and growing company.
The first target price for this stock is 234.6, followed by a second target at 403. This suggests that there is a potential for significant price appreciation in the future. (for mid-term invertors)
For short-term traders/swing traders, the potential take profits levels are marked.
Given these factors, Arabia Pipes Co. could be a good mid-term holding stock compared to short term.
However, as with all investments, it's important to do your own research and consider your own risk tolerance before making a decision. Happy investing! 🙂