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Reedan's shares recover slightly after hitting historic low
The share of Redan Food Company in the Saudi market shows a technical rebound after touching its historical low at 13 riyals, amidst the continuation of the overall downward trend for the stock. The stock managed to hold above the main support level and succeeded in breaking through resistance at 14.30 riyals, which enhances the chances of targeting levels between 14.75 and 15.05 riyals. There are expectations of further rise if trading remains above 15.48 riyals. However, the 14.75 riyal level remains a key support, and a break below it could bring back selling pressures. On the other hand, a breakthrough of the 17-ryal level would represent a significant turning point in the short term.
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