Saudi Arabian stock alert
CLOSING UPDATE: Development Works Food lifts 2.5% - outperforming 97% of stocks 16 August 2018 16:49 AST
NEWS BITES - MIDDLE EAST & NORTH AFRICA
This is an end of day Alert, produced after today's Saudi Arabian market close. It concludes the BSS News Bites intra-day Alert series (summaries below).
Development Works Food, Saudi Arabia's 15th largest agriculture & food industries company by market capitalisation, has lifted SAR1.60 (or 2.5%) today to trade at SAR64.40 and has outperformed 97% of the market in the past week. A price rise combined with a high relative strength is a bullish signal. Compared with the All Share Index (TASI) which rose 14.9 points (or 0.2%) in the day, this represented a relative price increase of 2.4%.
The negative 0.26 MACD (Moving Average Convergence Divergence) indicator suggests a bearish signal.
The price decreased 0.9% in the last month.
Morning Alert: Development Works Food keeps rising: up 7.3% in 3 days
16 August 2018 11:25 AST
Development Works Food (TASI:9501) extended its gains on Thursday, rising an additional SAR1.60 (or 2.5%) to trade at SAR64.40. Trading volume was 6.2 times average so far today. The shares have risen SAR4.40 (or 7.3%) over the past three trading days vs. the All Share Index (TASI) which has fallen 0.05% in the same period.
Development Works Food (SA:9501; SAU:9501; AB:9501)