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Saudielectricity

5110 : Can utility companies stocks provide high gains? The classis answer is No! because of limited growth and sensitive pricing. However, utility companies like any other company can have change of strategy, management and even product. Saudi Electric company had recently announced major changes to its governance and strategy by minister of energy himself. The chart tell the story that has been taking place since 2017, a relevant date to change of economic policies in the kingdom. Since then, the stock had been trading in a volatility funnel and out performing on its targets. Recently the price-action broke above the 20 SAR level, a significant level to hold to continue in the up trend. Next target coming up is 25 SAR given possible retracement to 21.0 SAR in the coming days. TADAWUL:5110
TADAWUL:5110Long
by binhajifahd
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