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Saudi Ceramics stock drops below key support
The Saudi Ceramics Company’s stock is facing significant downward pressure as it broke through key support levels that previously served as important consolidation points. This caused it to trade below 23.69 Riyals and opened the door for continued decline toward lower support levels between 23.02 and 22.20 Riyals. Selling pressures increased after the stock failed to maintain its stability above the previous support, and it is expected that the overall trend will remain bearish in the near term with limited chances of improvement unless the stock recovers the 24.25 Riyals level. To show signs of a trend reversal, the stock needs to break above a resistance at 26.18 Riyals. Historically, in 2026, the stock experienced sharp fluctuations, with a predominantly downward trend. Excessive selling pressure caused continuous declines, weakening the prospects for a quick recovery, especially in the absence of strong technical and fundamental catalysts.
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