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GOV Telecom shares stable at support
The shares of Union Atheeq Telecom Company ("Tadawul") have stabilized at key support levels after sharp declines, reaching the bounds of the Bollinger Bands with positive technical signals such as a reversal candlestick formation and high volume inflows. This suggests a potential upward move to levels of 75.05 SAR and then 77.05 SAR if positive momentum continues. The 70.25 SAR level is critical; breaking below it could indicate a possible negative trajectory toward lower levels. Since the beginning of 2026, the market has been trading within a range between 70.65 SAR and 101 SAR, with a relatively balanced force between buying and selling pressures.
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