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Amak shares fall further
The share performance of Maaden Aluminum Company (Ma'aden) has declined sharply in recent times after breaking through important technical support levels, leading to increased selling pressures and bearish technical outlooks in the short and medium term. The stock failed to hold its support at 80.30 SAR and fell to 73.75 SAR, with the possibility of further decline toward lower support levels between 72.25 SAR and 69.85 SAR if selling pressures persist. Historically, the stock experienced wide fluctuations throughout the year, reaching a high of 117.50 SAR in January before entering a prolonged corrective wave. Technical analysis adds that breaking previous support levels and turning them into resistance areas requires the stock to rise back above 80.30 SAR to halt the decline and improve its short-term technical picture.
Notice: This Is an AI-Generated Summary
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