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Al-Mamlakah shares rebound past resistance
The stock of Kingdom Holding Company experienced a noticeable rise after forming a price base at 12.66 riyals, successfully surpassing the 21- and 50-day exponential moving averages, with a positive crossover between them that indicates strong buying momentum. Analysts expect the upward trend to continue, with initial target prices at 14.05 and 14.40 riyals, possibly reaching 15.40 riyals if buying strength persists. Meanwhile, the 13.20 riyals level serves as an important stop-loss area. Since the beginning of 2026, the stock has followed an upward trajectory from a low of 7.40 riyals to a peak of 15.40 riyals, with a correction wave in September ending at the current lows. This reinforces the likelihood of continued gains supported by technical momentum.
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