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Raoum Commercials tests 76.75 riyals after trendbreak
The movement of RWooM Trading Company's stock is linked to an important resistance level at 76.75 SAR. Currently, the stock is testing this level after moving within a sideways range since last August. If the stock manages to stay above this level and break through it, it could head towards levels of 78.65 SAR, 80.65 SAR, and then 85.10 SAR. On the other hand, maintaining support at 73.15 SAR is essential for continuing the upward trend and avoiding a return to the sideways range. The stock, which stabilized after hitting a bottom at 52 SAR in March 2024, experienced a correction wave in May and June. However, it has begun gradually testing resistance levels again. A clear technical signal for resuming the upward path is a breakthrough above 76.75 SAR, although the stock remains temporarily volatile below this level.
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