Knowledge City Share Tests Key Levels
The share of City Development Company in the Saudi market has exhibited noticeable technical movements that began in early July. The stock is currently testing an important psychological and technical support level after a rally, amid anticipation of price levels that will determine its short- and medium-term direction. After a decline to approximately 17.80 riyals in September, the stock managed to regain balance and is trading near 18.88 riyals, facing resistance at 18.91 riyals. An extension of the upward movement is expected if this level is surpassed, targeting areas between 19.37 and 19.87 riyals. Analysts clarified that breaking support at 18.10 riyals could lead the stock to test the main support at 17.80 riyals, which reflects warnings about a deterioration of the downward trend that began in July 2025. This follows the stock's success in breaking out of the descending channel and surpassing an important resistance at 13.18 riyals, with expectations of further gains toward resistance levels around 19.50 riyals if buying momentum continues.
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