- Naranj Research Desk
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Riyadh Steel Company engages in the manufacturing and sale of steel, including steel scrap. Their operations encompass all stages of production, from flat bars, angle bars, billets, spatulas, iron alloys, to processed scrap. The company boasts an extensive range of bar sizes, ranging from 30 mm to 100 mm, all of which are certified to meet the stringent ISO 9001:2015 standards. With a production capacity of 90,000 tons of bars, 150,000 tons of ingots, and 220,000 tons of processed scrap, Riyadh Steel Company stands as a leading player in the industry.
RIYADH STEEL — TASI —
Current RSI of this stock is 64.15, 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.
Last day’s candle has closed above all these moving averages. This suggests buyers are taking interest in this stock.
Based on our Saudi Tadawul stock trading advice, Riyadh Steel stock price target will be SAR 40 - SAR 41 in the next 10-12 trading sessions.
