Ground Services shares rise as selling ease
The Saudi Ground Services Company stock experienced a technical rebound after a period of continuous downward pressure that began at the start of the year. The stock bounced back from key support levels, accompanied by positive technical signals such as an increase in the Relative Strength Index and price divergence, highlighting a slowdown in the bearish momentum. This suggests a higher likelihood of the stock resuming its upward trend. It is expected to face resistance around 23.39 and 24.04 riyals. If it manages to break through these levels, it could continue its rise toward 25.20 riyals. Recent performance indicates a potential improvement in the stock's outlook, with a possibility of staying above current support levels.
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