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Al Majid Oud stock enters technical phase
Al Majed Al Oud Company's stock has experienced relatively stable trading activity following a period of sharp decline that began in June. The market continues to monitor the stock's ability to break through the primary resistance level at 123.70 riyals, as this would enhance prospects for performance improvement. Technical analyses indicate that the stock has been in a phase of price consolidation since July, with a noticeable increase in trading volumes near the resistance level. Surpassing this level is a key condition for achieving price targets between 126.50 and 128.40 riyals. The main support level is at 119.80 riyals. The stock is expected to face fluctuations and performance variations throughout 2026, with an ongoing outlook for gradual improvement if it can sustain above the support level.
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