SADAFCO shows strong technical signals
The share of Saudi Dairy and Food Company (Sadayaco) shows signs of technical consolidation near important support levels after sharp declines. It broke support at 221.20 SAR and continued to fall to 209.70 SAR, but maintained stability above the 201 SAR level. Analyses indicate that the stock is going through a technical accumulation phase with increased trading volume, successfully forming a series of rising peaks and troughs in March, which enhances the likelihood of a recovery if it can remain above 207.50 SAR. There is strong support between 201 and 202.30 SAR. The outlook depends on the ability to surpass resistance at 240 SAR to achieve a sustained bullish trend.
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