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Ratel's share tests key support amid sales
Riyadh Development Company (Retal) faces ongoing selling pressures and is testing a key support level around 11.15 SAR, amid weak buying momentum and a dominant downward trend in its technical performance. Analyses indicate that the stock is trading below its moving averages and the Relative Strength Index (RSI) continues to decline, while attempting to test resistance at 11.51 SAR. If it succeeds in breaking through this level, it could head toward 11.78 and 12.02 SAR. However, failure to break resistance may lead to further declines toward lower support levels at 10.94 and 10.60 SAR, with the potential to form a new price base if sufficient buying liquidity is available. After a mixed performance at the start of the year and diminished momentum since March, selling pressures reemerged in May, reflecting a state of anticipation for a return of buying interest and a recovery of positive performance.
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