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City of Knowledge shares rise toward resistance
The share of Makkah City for Economic Development continues to rise in the Saudi market, achieving notable gains and approaching key resistance levels after stabilizing above an important technical support. The stock managed to surpass the 18.91 SAR level and reached its first target at 20.38 SAR, with a gradual decline in trading volume as it approached resistance zones. Outlooks suggest the possibility of sustained upward movement toward areas between 20.58 and 21.85 SAR, provided that buying momentum is regained. The stock’s movements in 2026 are part of a shift following a decline that lasted since July 2025, with signs beginning to emerge of a gradual recovery as attempts are made to break the downward trend. The 19.68 SAR level remains a significant support point for risk management.
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