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Takwem shares rise above support levels
The stock of Taqweem Modern Industries has shown positive movements above technical support levels, stabilizing above the middle band of the Bollinger Bands and increasing trading volumes. This reflects an attempt to recover from the price bottom of 3.71 riyals recorded last October. Analysts expect the stock to move towards the 4.00 riyals level as the first target. If it successfully breaks through this level, subsequent targets are set at 4.10 and 4.30 riyals. Caution is advised regarding a potential breakout below 3.75 riyals, which could cause the stock to revisit its bottom and decline again, given the continued downward trend in the medium and long term.
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