24 Days
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Electrical Industries share faces rising sell-off
The stock of Electrical Industries experienced a sharp decline after breaking through key support levels, as heavy selling pressure emerged following its drop from a record high of 19.62 riyals in April. The selling pressure caused the stock to lose the important demand zone between 15.30 and 14.50 riyals, leading to a collapse toward a major support level at 14.55 riyals. There are expectations of further decline toward levels ranging between 12.98 and 12.00 riyals if trading continues below these levels. The stock had performed strongly at the beginning of 2026, driven by strong buying momentum, but it now faces significant technical challenges, with indicators showing a slowdown in momentum and the continuation of a short-term downtrend.
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