Care's stock challenges key resistance
The stock of the National Medical Care Company has shown signs of attempting to regain upward momentum, approaching a major resistance level around 115 riyals. Although it is trading within a secondary downward trend and below the 200-day moving average, technical indicators have begun to signal a price rebound since May, with the price consolidating near an important secondary resistance. Successfully breaking through this level, supported by strong trading volume, could open the way toward targeted levels between 117.70 and 120.70 riyals. Conversely, a decline below the 110.50 riyal level could send the stock back into selling pressure, given the persistence of the long-term bearish trend.
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