Bahri's share nears record high

The performance of the National Shipping Company of Saudi Arabia "Bahri" stock continues to rise supported by increased liquidity and buying momentum, with anticipation of surpassing a key resistance level at 33.82 SAR to target historic highs around 40 SAR. The stock began recovering at the start of 2024 after stabilizing above the support level of 25.10 SAR, reaching a record high of 38.30 SAR in April before pulling back and regaining momentum. Technical analyses suggest that the upward trend could continue to levels between 39.30 and 41.74 SAR, provided that momentum and liquidity remain strong, with a critical need to protect the 35.48 SAR level to avoid a sudden correction.

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