In-Depth Financial Analysis of AL SALAM Sudan (ALSALAMSUDAN): Trends, Technicals, and Patterns

Country of Origin: Sudan

Al Salam Bank (the Bank) was established as a public company with limited liability in Khartoum on December 28, 2004 under companies law 1925 with registration certificate No. 23335. The Bank is providing commercial banking services according to Islamic rules and principles. The Bank started its commercial operations on May 2005.

Trend Analysis

Trend analysis involves examining historical data to identify patterns or trends that can help predict future movements. For ALSALAMSUDAN, we observe significant fluctuations in stock prices over the past year.

The highest recorded price was on 2023-12-21 at 1.10, and the lowest was on 2024-06-13 at 0.362. These extremes indicate periods of high volatility and possible external factors affecting the stock.

Technical Analysis

Technical analysis involves using statistical trends from trading activity, such as price movement and volume. Key indicators include moving averages, Relative Strength Index (RSI), and Moving Average Convergence Divergence (MACD).

The stock experienced a significant decline from January to June 2024, reaching its lowest point in mid-June. A recovery trend began in late June, peaking in early July, followed by another decline. This cyclical pattern suggests potential opportunities for short-term trading.

Support and Resistance Analysis

Support and resistance levels are critical in technical analysis. They indicate price points where a stock tends to stop and reverse.

For ALSALAMSUDAN, notable support levels include 0.362 (June 2024) and 0.544 (June 2024). Resistance levels are observed at 1.10 (December 2023) and 0.99 (January 2024). These levels are crucial for traders to make informed decisions on entry and exit points.

Volatility Analysis

Volatility measures the degree of variation in a stock's trading price. High volatility indicates higher risk but also potential for greater returns.

ALSALAMSUDAN's stock showed high volatility, especially between June and July 2024, with rapid price changes. This period's volatility could be attributed to market reactions to economic or company-specific news.

Pattern Recognition

Pattern recognition involves identifying recurring patterns in stock price movements, such as head and shoulders, double tops, and triangles.

For ALSALAMSUDAN, a notable pattern is the 'double bottom' observed around June 2024 and July 2024. This pattern often indicates a potential upward reversal, which aligns with the subsequent price increase observed in July 2024.

Conclusion

In conclusion, ALSALAMSUDAN has shown significant price movements over the past year, characterized by high volatility and cyclical trends. The highest price of 1.10 was observed on 2023-12-21, and the lowest price of 0.362 on 2024-06-13. Technical indicators and pattern recognition suggest potential opportunities for both short-term and long-term investors. However, the high volatility also indicates a need for cautious trading and thorough analysis before making investment decisions.