Mutawira shares face persistent decline
The stock of Saudi Advanced Industries (Matawwira) experienced consecutive declines due to selling pressures, as it failed to maintain important support levels at 14.90 riyals. The continued trading below this level suggests a further decline, with the price expected to range between 14.28 and 13.97 riyals, and there is a possibility of testing a key support at 13.30 riyals if the pressures persist. Conversely, a return of the stock to close above 14.90 riyals could help ease the decline and open the door for a recovery, although current technical indicators show a strong downward trend with weak buying momentum at present.
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