- Naranj Research Desk
- 🇸🇦 Saudi Stock Market
- 🇺🇸 USA Stock Market
Wafrah for Industry and Development Company, founded in 1989 and based in Riyadh, produces and markets a wide range of food products in Saudi Arabia. Its operations span pasta, vegetables, breakfast cereals, and meat products, including items like corn flakes, peanuts, macaroni, burgers, and French fries. The company also processes dates and produces animal feed. Its popular brands include Wafrah, Macolate, Caprini, Saudi Garden, and Aghsan. Formerly known as Food Products Company, it adopted its current name in 2014.
WAFRAH — TASI —
Current RSI of this stock is 73.14, which indicates the strength of buyers.
MACD line has crossed the signal line from the below, generates bullish signal.
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.
Based on our trading tips for Saudi Tadawul stocks, Wafrah for Industry and Development stock price target will be SAR 30 - SAR 30.2 in the next 14-15 trading sessions.
MONEY MANAGEMENT AND TRADING RULES
● Buy within the recommended price range.
● No need to rush. The recommendation remains valid for up to 7 days, not just at the market open.
● Always respect the stop-loss. It defines your risk on the trade.
● Once the trade moves in your favour, use a trailing stop-loss to protect and lock in profits.
● Spread your trading capital across our other recommended stocks instead of putting it all into one trade.
● Invest responsibly. Your ideal position size should be based on the downside risk of this trade, not the potential upside. Before entering, assess how much loss you can comfortably and financially absorb if it goes against you, and set your position size accordingly. Hedge positions where appropriate.
ANALYST SUMMARY
This research is prepared by the Naranj Capital research team under the guidance of Arijit Banerjee, CMT, CFTe, Founder and Director of Naranj Capital. Stock selection and all trade levels, including the buy range, targets and stop-loss, are personally finalised by him.
Arijit is a veteran trader and active investor with over 16 years of experience across global markets. He has in-depth expertise in financial market research, advanced technical analysis, market cycles, algorithmic trading and portfolio management. He is a Chartered Market Technician (CMT), accredited by the CMT Association, USA, the leading global authority on technical analysis. He also holds the Certified Financial Technician (CFTe) designation from the International Federation of Technical Analysts (IFTA).
The views expressed herein are based on publicly available information, internal research and other sources believed to be reliable, but not necessarily all-inclusive and not guaranteed as to accuracy. The recommendations provided herein are solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. Past performance is not indicative of future results. To read the full disclosure, please click here.
