- Naranj Research Desk
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Saudi Pharmaceutical Industries and Medical Appliances Corporation, located in Buraydah, Saudi Arabia, specializes in the development, manufacturing, and marketing of medicinal and pharmaceutical products. The company also plays a significant role in producing basic chemical substances and products. Moreover, it is actively involved in the wholesale and retail of medicines and related products, including cosmetics. Not only does the company operate and maintain healthcare facilities, but it also conducts extensive research and development in the field of medical science. Established in 1986, Saudi Pharmaceutical Industries and Medical Appliances Corporation continues to be a leading player in the healthcare industry in the Kingdom of Saudi Arabia.
SPIMACO — TASI —
Current RSI of this stock is 72.76, 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 exponential moving average (10 EMA) has crossed 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.
Based on our KSA trading and investment advice, Saudi Pharmaceutical Industries and Medical Appliances stock price target will be SAR 36.5 - SAR 37 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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