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Najran Cement shares fall to record low
The share of Nagrana Cement Company reached its all-time low of 5.32 riyals, amidst an ongoing downward trend that has been in place for years, breaking previous support levels. Despite the continued price lows, the Relative Strength Index (RSI) shows positive divergence, indicating a reduction in selling pressures and the possibility that the stock is nearing an oversold condition, which could support a corrective rebound. In the short term, the 5.55 riyal level is a major resistance, and its failure to hold could reintroduce selling pressure. Conversely, a breakout above this level on increased volume might push the stock toward higher levels, possibly reaching 6.09 riyals.
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