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Saudi Paper Manufacturing Co. engages in the manufacture of tissue paper rolls, conversion of tissue paper rolls into facial, kitchen, and toilet tissue papers; and collection, sorting, transport, and press of waste papers. In addition, SPMC saves the environment and benefits the community through its interest in paper recycling and reducing its reliance on virgin pulp which is manufactured through the consumption of forest trees. The company was founded on November 13, 1989 and is headquartered in Dammam, Saudi Arabia.
SPM —  TASI —
Current RSI of this stock is 61.37, which indicates the strength of buyers.
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 short length moving average (10 SMA) has crossed the long length moving average (20 SMA) from the below, generates bullish signal. Last day’s candle has closed above all these moving averages. This suggests buyers are taking interest in this stock.
Based on our Saudi stocks trading calls, Saudi Paper Manufacturing stock price target will be SAR 86 - SAR 87 in the next 12-14 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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