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Saleh Al-Rashid's holdings enter consolidation
The stock of Saleh Abdulaziz Al-Rasheed & Sons Company (symbol 1324) has begun a technical rebound after reaching its all-time low of 40 riyals, the lowest level recorded since its listing on the Saudi Financial Market. The stock, which showed a positive performance following a wave of decline and selling pressures, has started forming a price base within an accumulation range, reflecting increasing buying interest at lower levels. The market expects that surpassing the 43.16 riyal level, which coincides with the 50-day moving average, could pave the way for further gains aimed between 44.02 and 45.92 riyals. Conversely, maintaining below 41.38 riyals poses a risk of pushing the stock back to its historical bottom. It is worth noting that the stock was listed at a price of 45 riyals in March 2026, reached a high of 69.70 riyals in April, before retreating due to a corrective wave and selling pressures.
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