Agriculture Co. On Point of a Larger Move
Source: Clive Maund
September 19, 2023 (Investorideas.com Newswire) Technical Analyst Clive Maund takes a look at Sadot Group Inc.'s 3-month chart to share why he believes the company is a Buy.
Sadot Group Inc. (SDOT:NASDAQ) has been kept under observation in recent days, and it now looks ready to break to the upside. On its latest 3-month chart shown below, we can see that it appears to have stabilized above an important support level after dropping back in a bullish falling Wedge pattern since late July.
Two big factors that point to a probable break to the upside soon are the fact that the price is below a still strongly rising 200-day moving average and the rapidly improving momentum (MACD), which is now trending higher.
To that, we can add that the price has pushed its nose out above the second downtrend line, with volume having become light in recent weeks and downside volume having eased off with the Accumulation line having held up well on the drop from late July.
With a tradable rally in prospect from here, Sadot is rated a Buy here, mindful of the lurking risk of a market crash later as we go deeper into the Fall.
Sadot Group's website.
Sadot Group Inc. closed at $1.02 on September 13, 2023.
More Info:
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.
More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/
Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
