Salama Insurance Stock at Record Low
Salama Cooperative Insurance Company’s stock experienced a significant decline, reaching its lowest level in history at 6.55 riyals. Its performance has been dominated by a downward trend throughout 2024, with strong selling pressure starting from 10.25 riyals, dropping to 7.20 riyals, and then continuing to decline. Despite recent attempts at a rebound and a gradual increase in trading volumes, technical indicators still suggest that the downward trend remains in control. The 7.20 riyal level is a key support level. Technical reports indicate that surpassing 7.63 riyals, supported by active trading, could open the way for a rebound towards levels between 7.82 and 8.28 riyals. Conversely, breaking below this support level could lead to further declines and potentially lower levels.
Notice: This Is an AI-Generated Summary
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