Saama Insurance Shares Hit New Low
Salama Cooperative Insurance Company’s share recorded a new all-time low at 6.55 SAR, amid the dominance of a bearish trend. Despite some indicators suggesting attempts at a price rebound supported by increased trading volumes, the stock faced strong selling pressure throughout 2024, starting from levels around 10.25 SAR and reaching its lowest point. Repeated efforts to establish a price base were unsuccessful as selling pressure persisted, leading to the breach of previous support levels. Technical indicators continue to point to a bearish outlook, although there are attempts at a recovery that are likely to remain dependent on surpassing the key resistance level of 7.63 SAR. There is strong support at 7.20 SAR, which is an important level to maintain to preserve prospects for a potential rebound.
Notice: This Is an AI-Generated Summary
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