Autumn Shares Continue Decline

The share of AlKhorayef Company for Water and Power Technology continues to face selling pressure in recent trading sessions, moving within a declining channel that has been ongoing since March 2024. The company's market value has decreased, with the stock trading around 107.50 Riyals and stabilizing below important support levels between 108.50 and 111.00 Riyals. This increases the likelihood of continued decline towards lower levels, potentially reaching 87.10 Riyals. The stock's decline is linked to breaking a key support level at 117.30 Riyals, with limited corrective attempts emerging. However, regaining the 129.90 Riyals level is essential to turn the trend positive and restore investor confidence.

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