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SABIC shares stabilize amid rebound outlook
The share of the Saudi Transport Company (Saudia) has ended its latest corrective wave after reaching the 200-day simple moving average, with an attempt to bounce back at a price of 10.75 riyals. Currently, the stock is experiencing a balance between buying and selling pressures, with a key support level at 10.35 riyals. It needs to confirm a rebound above 11.25 riyals to continue the anticipated upward trend toward 11.80 riyals. However, declining trading volumes suggest that the market requires further confirmations before the correction wave is fully completed.
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