100 Days
Source:
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Al-Sulayman Al-Habib stock advances past wedge pattern
Sulaiman Al-Habib Medical Services Group's stock achieved success in breaking through the falling wedge pattern it had formed over the past period, following a decline that began at the start of the year. The stock's move above the resistance level of 220.80 riyals led to a close near 222.50 riyals, which reinforces the chances of the upward trend continuing towards levels between 228.40 and 237.90 riyals, provided the stock can push above this resistance. This breakout represents a significant technical shift after a series of selling pressures that persisted until March, during which the stock managed to rebound from a key support at 214 riyals, while remaining above a critical support level at 216.20 riyals. However, a break below this support could send the stock back into a downward trend.
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