EDF and droppRWA Sign MOU to Explore Blockchain Solutions in Saudi Energy Sector
- Blockchain Collaboration: EDF Group and Saudi-based droppRWA have signed an MOU to explore implementing blockchain tokenization solutions in the Saudi energy sector, aiming to modernize the carbon credit market by enhancing project liquidity.
- Asset Tokenization: This partnership will facilitate bringing renewable and thermal energy assets on-chain, utilizing blockchain technology to streamline inter-company transactions, improve transparency, and optimize asset lifecycle management.
- Technological Investment: EDF RHQ CEO Omar Aldaweesh stated that this collaboration will create value for projects and strengthen the resilience of the carbon credit market, highlighting the company's commitment to new technologies.
- Market Potential: droppRWA Chairman Faisal Al Monai emphasized that making energy assets more accessible and liquid through blockchain infrastructure marks a significant step toward the future development of Saudi capital markets.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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