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Mecca stock targets resistance after rebound
Al-Makkah Al-Enayah for Construction and Development's stock is aiming to surpass resistance levels after rebounding from the recent bottom, showing positive movements in performance during the past sessions supported by increased trading volumes and a bullish price gap. The stock rebounded from the 75.40 SAR level and is expected to break through the resistance at 77.50 SAR, which could pave the way to achieve targets at 79.00 SAR and 81.55 SAR. Meanwhile, the 75.30 SAR level remains a key support to safeguard the short-term upward trend. Risks remain if the stock fails to maintain its gains, especially if it drops below the 75.30 SAR support level.
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