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Al-Arabi approaches all-time high
The Arab National Bank's stock made significant technical movements after managing to break a series of downward pressures that lasted for several months. It surpassed a key resistance level at 22.40 riyals, turning it into strong support, which enhances the likelihood of continuing upward. These developments contributed to redraw the stock's technical path, focusing on testing new resistance levels around 23.07 riyals and targeting higher levels between 23.60 and 24.05 riyals. If the stock maintains trading above the support of 22.42 riyals, expectations indicate that positive momentum could persist, reaching the historic peak around 24.70 riyals, with close monitoring of support levels to maintain the upward trend.
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