Budget Saudi Arabia Shares Decline

The stock of Budget Saudi Arabia continues its major downward movement, having started the year near 47.60 riyals and coming under selling pressure that led to the loss of one of its key support levels at 43.15 riyals, further accelerating the decline. Recently, the stock rebounded from a support zone around 33.15 riyals, but it still needs to stabilize above 36.29 riyals to support potential recovery. A key resistance is at 36.29 riyals, with a target between 37.12 and 38.30 riyals if that level is surpassed. The technical outlook remains primarily negative, and the stock needs to regain trading above 46.50 riyals to confirm a trend reversal and restore momentum.

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