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SADAFCO, a prominent food manufacturer, vendor, and distributor headquartered in Jeddah, Saudi Arabia, has established itself as a frontrunner in the industry throughout the Middle East region. The company is involved in manufacturing and delivering dairy items, beverages, and a variety of food products. Their product line comprises unflavored and flavored milk, cheese, cream, ice cream, butter, French fries, snacks, and tomato-based goods. Renowned for its flagship brand Saudia, the company has garnered market leadership in Saudi Arabia specifically in the sectors of Long Life Milk, Tomato Paste, and Ice Cream.
SADAFCO —  TASI —
The short length exponential moving average (10 EMA) just about to cross the long length exponential moving average (20 EMA) 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.
MACD line has just crossed the signal line from the below and a positive histogram chart is forming. This can be considered as a bullish signal.
The OBV line is moving in the same upward direction which means there is a positive sentiment in the market. Also the significant price up move accompanying with increasing OBV volume suggests strong buying pressure.
Based on our stock recommendations for Saudi Tadawul, Saudia Dairy and Foodstuff stock price target will be SAR 410 - SAR 420 in the next 15-16 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.
If you’re interested in learning more about Arijit’s work or Naranj Capital’s services, you can reach out to them directly through their website
