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RAYAN shares hit new highs ahead of supply zone
The share of National Medical Care Company "Raya" recorded a notably positive performance during August, maintaining its upward trend after breaking the resistance level at 122.40 SAR. This move led to its advancement toward higher price levels reaching 127.70 SAR, with expectations for the upward wave to extend toward key resistance zones between 130.70 and 132.80 SAR. However, technical assessment indicates that the progress may stall at the main resistance level of 138.20 SAR, and a decline below 122 SAR could weaken the prospects for short-term gains. The stock has been moving within a major downtrend since the beginning of the year but has started to recover since June, with selling pressures increasing if it breaks the support level at 122 SAR.
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