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Tadawul Group shares test demand zones
The Saudi Tadawul Group stock has recently experienced downward volatility, currently trading under clear selling pressure and testing strategic demand zones between 113.80 and 115.70 riyals. These levels previously saw attempts at a corrective rebound before selling pressures resumed. Since the start of the year, performance was positive in January with increased trading volumes, but in February, the stock faced selling pressures that broke the support level at 130.90 riyals, prompting a downward trend. In the following months, the stock traded within a sideways channel between 132 and 150.60 riyals until support was broken, increasing the likelihood of further decline. Technical forecasts indicate that stability above a resistance level at 125.60 riyals may open the door for a potential rebound toward 128.20 riyals, reaching the main resistance zone between 131.10 and 132 riyals.
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