ADN shares test support after trendbreak
The share of Addis Holding Company experienced notable declines in July, facing selling pressures that led to a break below the main upward trend line extending since August 2025. After rising from 16.65 riyals to 19.92 riyals between January and May, the stock entered a consolidation and retracement phase starting in June, with technical weakness signs appearing, including the formation of decreasing peaks and troughs. Currently, the stock is testing important support levels between 15.97 and 16.36 riyals. If it manages to hold this support, it may attempt to retest resistance levels between 16.80 and 17.47 riyals. However, if the decline continues below these levels, it threatens the support at 15.95 riyals, potentially leading to further decline toward lower levels ranging between 15.45 and 15.65 riyals.
Notice: This Is an AI-Generated Summary
Comments (0)