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Riyad Cable Group Company produces and deals with electrical transmitters, telecommunication cables and various kind of cables with in middle east and all over the world. The company works in four segment – 1) production 2) sales of various cables 3) maintenance and 4) project works. The Group produces low voltage, medium, high and super voltage electrical cables and wires manufactured from copper or aluminum. Inside and outside of the KSA, this Group works on High Voltage (HV) electrical projects. This company also engages in construction and maintenance of industrial buildings and production lines.
RIYADH CABLES — TASI —
We can observe that the short-term Moving Average (10), crossed over the longer-term Moving Average (20), which gives a strong bullish signal. This is also known as a “Golden Cross” and indicates a potential upmove further.
Increasing ADX value above 20, indicated the strength of the trend, thereby uptrending ADX confirms the bullish or bearish supportive decisions. Along with the rising ADX, and the +DI is above (or crossing) -DI, indicates the long trades should be favoured.
The price is continuously hugging the upper band since Dec’23 and sometimes exceeded and took support above it. This signifies, the stock is in a strong uptrend.
Based on our short term trading of Saudi stocks, Riyadh Cables Group stock price target will be SAR 108 - SAR 111 in the next 14-15 trading sessions.
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.
Arijit’s credentials are impressive, holding both the Chartered Market Technician (CMT) and Certified Financial Technician (CFTe) designations. These certifications demonstrate his expertise in technical analysis and financial markets.
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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