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Exports share remains stable amid momentum hopes
The share of the Saudi Export Development Company has been moving sideways for several months, amid anticipation of an improvement in momentum indicators and clearer trading activity suggesting it is beginning to regain upward traction. After a strong start to 2026 and successfully breaking through a descending channel, the stock experienced some corrections and tested key support levels around 2.15 Riyals, which proved to be solid and helped stabilize its price. Traders are watching the 2.35 Riyal level as a potential indicator of a possible trend reversal, with a prospect of targeting resistance at 2.60 Riyals. The nearest support at 2.26 Riyals offers protection against further declines. The wait continues for technical catalysts or strong capital inflows to confirm a breakout from the sideways range and the resumption of an upward trend.
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