Saudi Arabia: Yanbu Cement Co strengthens above Moving Average Price (MAP); 50-day MAP outperforms 200-day MAP
Yanbu Cement, Saudi Arabia’s 5th largest construction company by market capitalisation, has strengthened above its trend. The 200-day moving average price (MAP) was SAR47.40. The price to 200-day MAP ratio is 1.11, a bullish indicator. In the past 200 days this ratio has exceeded 1.11 44 times suggesting further upside.
The stock is trading above both its MAPs and the 50-day MAP of SAR52.22 is higher than the 200-day MAP of SAR47.40, a bullish indicator. The 200-day MAP has increased to SAR47.40. An increase is another bullish indicator. The stock price rose 50.0 hallalah (or one per cent) to close at SAR52.75. Compared with the All Share index (TASI), which fell 36.9 points (or 0.6 per cnet) on the day, this was a relative price change of 1.5 per cnet.