In-Depth Financial Analysis of Al Firdous Holdings PJSC (ALFIRDOUS)

This article provides a comprehensive financial analysis of Al Firdous Holdings PJSC (ALFIRDOUS), covering trend analysis, technical analysis, support and resistance levels, volatility, and pattern recognition.

In-Depth Financial Analysis of Al Firdous Holdings PJSC (ALFIRDOUS)

Summary

Al Firdous Holdings PJSC (ALFIRDOUS) has shown significant price movements over the past year. This analysis dives into the trends, technical indicators, support and resistance levels, volatility, and patterns to provide a holistic view of the stock's performance.

Company Profile

Country of Origin: United Arab Emirates (U.A.E)

Al Firdous (P.J.S.C) (formerly Manasek P.J.S.C) is a public joint stock company registered on 1 July 1998 in the Emirates of Dubai, United Arab Emirates, according to Ministerial Decree Number (106) for the year 1998, and which commenced its operations on 22 October 1998. On 31 September 2007, the company secured approval from Ministry of Economy to change its name from (Manasek P.J.S.C) to (Al Firdous Holding P.J.S.C).

Up to 31 December 2008, the company operated as a group consisting of the company (the partner company) and Al Firdous Group Co Ltd for Hotels, a company established in the Kingdom of Saudi Arabia and involved in managing and operating hotels and restaurants in the Kingdom of Saudi Arabia and organizing Hajj and Umra trips.

Trend Analysis

Analyzing the price data from January 2023 to June 2024, Al Firdous Holdings PJSC (ALFIRDOUS) has experienced significant fluctuations. The highest price was recorded on 2023-10-20 at 0.565, and the lowest price was on 2023-06-12 at 0.172. The stock price saw a substantial increase from mid-2023, peaking in October 2023, before experiencing a downward trend towards mid-2024.

Technical Analysis

Technical indicators such as moving averages, RSI, and MACD were analyzed. The 50-day moving average indicates a bearish trend as the stock price has been consistently below this average since October 2023. The RSI (Relative Strength Index) has shown overbought conditions in October 2023, followed by a consistent decline, indicating selling pressure. The MACD (Moving Average Convergence Divergence) also confirms the bearish trend with the MACD line below the signal line since late 2023.

Support and Resistance Analysis

Key support levels are identified at 0.146 and 0.172, which have held firm during the stock's decline. Resistance levels are noted at 0.565 and 0.525, which acted as barriers during the stock's upward movement in October 2023. The stock's recent price movements indicate that it is currently testing the support level at 0.299.

Volatility Analysis

Volatility has been a significant characteristic of ALFIRDOUS stock. The highest volatility was observed in October 2023, correlating with the peak price of 0.565. The standard deviation of daily returns indicates high volatility, especially during the months of September and October 2023. The current volatility suggests cautious trading as the stock continues to test support levels.

Pattern Recognition

Several patterns were identified in the price data. A head and shoulders pattern emerged in October 2023, signaling a potential reversal. This pattern was followed by a descending triangle pattern, indicating a bearish continuation. The recent price movements suggest a potential double bottom pattern, which could signal a reversal if the stock breaks above the resistance level at 0.302.

Conclusion

Al Firdous Holdings PJSC (ALFIRDOUS) has experienced significant price fluctuations over the past year. The trend analysis indicates a bearish trend, confirmed by technical indicators and pattern recognition. Key support and resistance levels have been identified, and the stock's high volatility suggests cautious trading. Investors should monitor the stock closely for potential reversals or further declines.

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