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Naki's share rebounds after trend breakout
Naki Water Company’s stock has shown a notable technical improvement following its breakthrough of the descending trendline established since 2023, indicating the beginning of a gradual recovery in its price performance. The stock succeeded in surpassing the resistance level at 55.75 SAR, then retested it and settled above the 57 SAR mark, with expectations of further gains toward 58.35–59.05 SAR. The price could reach 60 and 61.90 SAR if buying momentum and liquidity remain strong. Despite this improvement, breaking below the 54.95 SAR level remains a warning sign, as it could reintroduce selling pressures and weaken the prospects for continuing in the upward trend. Confirmation of a sustained move above 64.80 SAR is needed for a solid and lasting reversal in the trend.
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