Riyadh – Mubasher: Nofoth Food Products Company fell by 3.12% to close at an all-time low of SAR 6.53 during recent trading sessions.
The Consumer Non-Durables sector constituent is currently trading below its short- and medium-term moving averages, with its 20-day Simple Moving Average (SMA20) at SAR 7.16 and its 50-day Simple Moving Average (SMA50) at SAR 7.43.
Technical data indicates the stock has entered oversold territory, with a Relative Strength Index (RSI) of 18.21.
Meanwhile, the Moving Average Convergence Divergence (MACD) stands at -0.216, while the Average Directional Index (ADX) of 26.9 suggests a strengthening downward trend.
The price milestone follows the company’s announcement of a non-binding memorandum of understanding to explore the acquisition of a 70% stake in Al Waal Al Bari Beverages Company.
Additionally, Nofoth recently approved its strategic plan for the 2026–2030 period.
These corporate developments coincide with the stock's breach of previous support levels to reach its lowest valuation since listing.
