Sama Insurance stock hits new low

Salama Cooperative Insurance Company’s share hit a historic low of 6.55 SAR, amid a dominant downtrend throughout 2024. It declined from levels of 10.25 SAR to 7.20 SAR before entering a phase of sideways fluctuation. With ongoing selling pressures, the stock fell again to a new low, despite negative momentum indicators, although there have been attempts at a rebound supported by increased trading volumes. The 7.63 SAR level is a key resistance barrier; if prices manage to break through it with strong trading activity, it could support a potential rise toward 7.82 and 8.28 SAR. Meanwhile, the 7.20 SAR level remains a vital support area to maintain the possibility of a rebound; breaking below it might lead to continued decline and further drops.

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