- Naranj Research Desk
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Basic Chemical Industries (BCI) is a prominent chemical company, headquartered in Dammam, Saudi Arabia. It plays a significant role in the country’s chemical industry, manufacturing and supplying a wide range of Chemicals; and Adhesives and Other Materials segments, for various sectors. The Chemicals segment manufactures and sells industrial chemicals, such as hydrochloric acid, caustic soda, chlorine gas, sodium hypochlorite, and polyurethane chemicals. The Adhesives and Other Materials segment manufactures and sells ferric chloride, hot and cold melt adhesives, and sulfuric acid. BCI is also involved in the purchase, formulation, processing, import, export, marketing, distribution, and acting as an agent for the sale of its products, which makes it a key player in driving economic growth and supporting the development of Saudi Arabia’s industrial sector.
BCI — TASI —
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 current RSI of the stock is 68.28, shows strength of buyers. RSI line is also in a uptrend, which is very positive signal.
Based on our stock trading advice in Saudi Arabia, Basic Chemical Industries stock price target will be SAR 36.5 - SAR 37 in the next 14-15 trading sessions.
