CJS stock tests key technical levels

The share of Union Greanfelder Saadi Holding Company (CGS) shows noticeable technical movements within a broad sideways trading range, after a period of selling pressures since June. It approached an important support level at 6.50 riyals. If trading stabilizes above this level, the stock may target gains between 6.65 and 6.85 riyals, potentially reaching 7.10 riyals if buying momentum continues. Conversely, breaking the support between 6.18 and 6.24 riyals could indicate increased downward pressure. During 2024, the stock reached an all-time high of 10.95 riyals in January but declined, approaching its lowest point at 5.89 riyals in August. A key resistance at 8.20 riyals reflects the need for stabilization above it to shift the outlook from negative to positive.

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