Bawan shares signal technical reversal

Bouwan Company's stock has experienced a significant technical improvement after testing key support levels and breaking through the resistance level at 36.40 Riyals, leading it to become a strong support zone. Technical analysis shows that the stock has managed to settle above the 37.92 Riyals level, which enhances the likelihood of it rising again toward new resistance areas between 38.82 and 39.10 Riyals, targeting price levels between 39.92 and 40.70 Riyals. Analysts emphasize the importance of maintaining above the support level of 36.55 Riyals to ensure the continuation of the upward trend, as they watch for the stock’s ability to hold on to its gains and improve its performance amid a flow of buying liquidity.

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