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Al-Rashid's stock rebounds after historic low
Al-Salih Abdulaziz Al-Rashid and Sons Company’s stock shows signs of a technical recovery after reaching its lowest levels since being listed. The stock closed at 42.18 riyals after surpassing a resistance level at 41.60 riyals, with trading volumes increasing and the price staying above the 50-day moving average. The company was listed on the Saudi Stock Market in March 2026 at a price of 45 riyals, with its highest point at 69.70 riyals in April, before declining to a low of 36.60 riyals in July due to selling pressures. Technical analyses indicate that the stock stabilizing above 42.30 riyals increases the likelihood of continued recovery, with a potential target at 43.35 riyals and 44.34 riyals. The level of 40.95 riyals serves as a key support, and a close below it could signal a return of selling pressures.
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