Al-Rashid's share seeks recovery after new low
The shares of Saleh Abdulaziz Al-Rashed and Sons show signs of technical recovery after declining to their lowest levels since listing, closing at 42.18 Riyals after surpassing the resistance level of 41.60 Riyals. The stock is also stabilizing above the 50-day exponential moving average, with high trading volumes. Technical analyses indicate the possibility of continued recovery if the stock maintains the 42.30 Riyal level, with potential targets reaching up to 45.74 Riyals. The 40.95 Riyal level serves as a key support. The stock was initially listed at a price of 45 Riyals in March 2026, reached a peak of 69.70 Riyals last April, before declining to a low of 36.60 Riyals. Currently, the market appears to be attempting to change the short-term downtrend.
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