_1777294237270_124456903.png&w=64&q=75){kind=small}
Abu Mu'ti shares rise briefly amid sell-off
Abdullah Saad Muhammad Abu Muttaie's Bookstores Company stock declined during 2024 due to selling pressures, dropping from high levels of 51.80 riyals in January to a low of 32.84 riyals in the first quarter. Subsequently, it entered a consolidation phase characterized by sideways movement. Despite a short-term rebound supported by improved trading volumes and the stability of the price above key support levels around 30.45 riyals, the stock remains below the 50- and 200-day moving averages, indicating a continued negative outlook in the short and medium term. The stock is expected to move toward resistance at 33.28 riyals. If it surpasses this level with strong trading support, its targets could reach between 34.10 and 35.95 riyals. Support levels at 31.84 riyals serve as a protective point for recent gains; if broken, selling pressures are likely to resume.
Notice: This Is an AI-Generated Summary
Comments (0)