- Naranj Research Desk
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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.
