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Mahara shares under heavy sell pressure
The share of Mahara Human Resources Company experienced a sharp decline in the Saudi market last August, coming under strong selling pressure that brought it close to a major support level at 4.40 riyals. Technical analysis shows that the stock is trying to hold above this support, but low trading volume is hindering the formation of a solid base for a rebound. Stability in the price above 4.48 riyals, coupled with increased trading volume, is necessary for recovery prospects, with the potential to reach the zone between 4.59 and 4.65 riyals, which are considered significant resistance points. If the stock fails to maintain its balance, it may continue to fall to lower levels around 4.35 riyals, amid ongoing caution among traders.
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