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Al-Drees' share nears new resistance levels
The shares of Al-Drees Petroleum Services and Transportation are currently testing a major resistance level at 130 riyals, supported by positive technical indicators, including trading above the 200-day simple moving average and nearing a breakout above resistance at 135 riyals. The stock shows short-term momentum with improving moving averages and convergence/divergence of the averages, but it needs an increase in trading volume to confirm the strength of the breakout. It may target the 138 riyal level if it stabilizes above 130 riyals, while the 120 riyals level acts as the first support for the current movement.
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