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Al-Mamlaka shares rise past resistance
The Saudi Kingdom Holding Company’s stock has experienced a noticeable rebound in its technical performance, successfully surpassing key resistance levels and continuing its upward trend since the beginning of the year. The stock managed to form a price base at 12.66 riyals and rose to 13.69 riyals, crossing above the 21- and 50-day moving averages, with a positive crossover emerging between them that reinforces the upward trend. Technical analysis supports the continuation of positive momentum, although trading volumes remain below average, indicating that additional inflows are needed to confirm sustained growth. The stock is expected to reach target prices between 14.05 riyals and 15.40 riyals, with support levels at 13.20 riyals serving as critical points to halt potential losses.
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