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Al Majd Oud Faces Selling Pressure
The share of Al Majid Al Oud faced strong selling pressures during July, dropping below the critical support level of 120.95 SAR. There remains a possibility of the downtrend continuing unless the price manages to recover above this level. Technical analyses indicate that 117.20 SAR is the nearest support, and if the stock breaks below it, it could decline toward areas of 114.60 SAR and 111.30 SAR, with further potential decline to 108.30 SAR. On the other hand, a return to trading above 120.90 SAR is viewed as a potential sign of improved performance, targeting a resistance level at 123.90 SAR. The stock experienced a decline during 2026 after an upward wave in the first quarter followed by a drop in April.
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