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Rasun shares test resistance levels
Rasan Information Technology Company's stock is currently experiencing technical anticipation, as it tests an important resistance level within a sideways range since August. This resistance is supported by a strong primary upward trend throughout 2026. It is expected that a close above the resistance level of approximately 140.40 riyals, along with increased trading volume, will push the stock towards target areas between 143.80 and 145.00 riyals, and possibly higher between 148.30 and 151.80 riyals if it manages to break this resistance. The stock's positive performance is supported by sustained momentum, with initial support at 136.70 riyals and a secondary support at 135.00 riyals to prevent a decline. The ongoing upward trend that began last year has been confirmed through the formation of higher highs and higher lows, as well as increased trading activity. Despite profit-taking following the record high of 159.60 riyals in June, the stock has maintained its stance above the key support level of 126.40 riyals, preserving the long-term positive outlook.
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