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Manufacturing stocks face continued decline
National Manufacturing Company's stock is experiencing ongoing downward pressure and is losing momentum amid anticipation of key support levels. It continues to trade below the resistance level of 8.89 SAR, with the last session seeing a decline to 8.76 SAR. The 8.70 SAR level is considered a critical pivot point; if broken, further decline is expected, with support levels between 8.56 SAR and 8.40 SAR. There is also a possibility of increased buying interest around these areas. The latest wave of decline began in April, and the stock previously managed to rebound above 9.40 SAR. However, continued selling pressure threatens to deteriorate performance and potentially reverse the negative trend. A return to trading above 8.89 SAR is necessary to bolster optimism.
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