23 Hrs
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Al-Mutqaddima stabilizes at support, pending rebound
The Advanced Petrochemical Company stock is currently showing support within a key zone between 21.73 and 22.43 Riyals. It appears to be looking for a corrective rebound if it surpasses the 23.25 Riyal level. Despite the dominance of a bearish trend and the stock recording consecutive lower lows, technical indicators such as the Relative Strength Index suggest a diminishing downward momentum, coupled with increased trading volumes, which reinforces the possibility of a temporary reversal. The success of this rebound depends on the stock's ability to break through the identified resistance; however, continued weakness below 22.45 Riyals could renew downward pressure and lead to further declines.
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