Thaiba shares reach new historic low
The Tadawul stock of Dhab Car Rental Company hit a new historic low near 20.05 SAR, amid a prevailing downtrend and ongoing selling pressures that caused the stock to lose momentum and trade below the main moving averages. Technical analysis indicates continued pressure on the stock with a breach of key support levels, and a potential further decline toward 19.44 SAR if selling persists. Conversely, establishing a strong support base will require a close above 20.62 SAR to confirm a gradual recovery towards the 21.60 to 22.00 SAR range, with a necessary move above 23.65 SAR to open the door for a larger bullish trajectory.
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