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Autumn share faces continued sell-off
The share of Al Khorayef Water and Power Technologies, listed on the Saudi Stock Exchange, is experiencing a sharp decline due to increasing selling pressures that have broken through key technical support levels. The stock is currently heading towards testing the lower boundary of the price channel since March 2024, with indications of continued decline as long as it stays below the 108.50 riyal level. The bearish outlook was confirmed after breaking below 108.50 riyals, targeting lower levels down to 95.25 riyals. A continued downward trend is expected unless the 108.50 riyal level is surpassed and maintained above, with the support zone located between 87.10 and 88.50 riyals.
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