Amak share slides further

The reputation of Maaden Chemical Company (Ma'aden) has experienced a sharp decline in its stock price due to breaching key technical support levels, leading to increased selling pressure and a change in the stock’s technical trend. After failing to maintain an important support level at 80.30 riyals, the price fell to 73.75 riyals, with expectations of further decline between 72.25 riyals and 69.85 riyals if trading continues below strong support. The stock reached a historical high of 117.50 riyals in January, before entering a downward wave as technical performance continued to weaken and main support levels declined, threatening sustained poor market performance for the stock.

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