Tadawul Group stock moves sideways

The technical analysis of Saudi Tadawul Group's stock indicates that it is trading within a sideways range between support at 131.40 SAR and resistance at 150.60 SAR. There is a need to regain the 143.30 SAR level to improve the short-term outlook. The stock faced selling pressure in February after breaking below the January support at 130.90 SAR. It then moved within a sideways range from March through June, with a balance between buying and selling forces. Expectations depend on a breakout above the main resistance to drive upward momentum, with the support level of 131.40 SAR remaining essential for the current movement.

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