Union's share waits for technical breakout
Al Ittihad Cooperative Insurance Company's stock is awaiting a breakthrough of key resistance levels to resume the upward trend, following a series of declines since July 2026. Technical analyses indicate that it is approaching the upper boundary of a short-term descending channel, with buying forces eager to surpass it to confirm a trend reversal from the downward pressures. The condition for an upward move is to stay above the 7.53 riyals level, with the potential to target higher levels between 7.70 and 8.28 riyals if positive performance continues, while maintaining support at 7.23 riyals. The stock shows an attempt to recover after experiencing prolonged declines since the beginning of 2026, where a strong price base was expected to form, but negative performance led to the price reaching a low of 5.70 riyals in May.
Notice: This Is an AI-Generated Summary
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