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Saudi Energy shares decline amid weak demand
The "Saudi Energy" stock witnessed a noticeable decline after rebounding from a resistance zone around 17.35 riyals, closing below the 16.30 riyal level. This reflects ongoing selling pressures and weak buying momentum. The stock is expected to test support levels between 15.95 and 15.40 riyals, with the next support level at 14.87 riyals, as buying strength continues to decline according to the RSI indicator. The stock experienced fluctuations throughout the year, and in February, it successfully regained trading above 13.11 riyals after a selling wave, which contributed to the formation of a temporary upward trend.
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