Mobily stock aims to test resistance levels

Al-Hafiz's share of Etihad Al-Ettisalat "Mobily" maintains its upward trend, trading around the level of 65.45 Saudi Riyals. This is supported by technical indicators indicating its ability to continue consolidating near key resistance levels that reach up to 68.75 Riyals. The stock remains supported above the short- and long-term moving averages, with strong support points at 63.28 Riyals and 64.60 Riyals, which enhance the chances of breaking through resistance and continuing to rise in the upcoming period. Since the beginning of the year, the stock has maintained an upward direction with periods of correction and profit-taking, but it regained its upward momentum after hitting a bottom at 59.95 Riyals in March. There are expectations of targeting higher levels as the momentum continues.

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