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Sadaq share rises beyond channel limits
The Saudi Industrial Development Company (SADAQ) stock has experienced a noticeable reversal in its technical trend after successfully breaking above the upper boundary of the downward channel that has dominated its performance since July. This move was supported by a significant increase in trading volumes and liquidity. The breakout comes as the stock approaches a key resistance level at 17.50 SAR, and technical analyses confirm the potential for continued upward movement if it manages to surpass this level, with targets reaching up to 19.42 SAR. The main support level remains at 16.63 SAR. It is observed that the stock was under downward pressure at the beginning of 2026, but signs of recovery are now emerging as it attempts to establish a new price base. It has also succeeded in breaking previous resistances such as 13.40 SAR, reflecting a desire to change the corrective trend that has persisted since last year.
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