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Al-Tameer commits to breaking resistance
The movement of Riyad Investment Company's stock shows serious attempts to break through a key resistance level at the 200-day simple moving average, supported by positive technical patterns such as forming a higher bottom and a bullish crossover between short-term moving averages. The stock is expected to target price levels of up to 17.35 and 18.70 riyals if buying momentum continues, while the 16.35 riyals level is considered a crucial stop-loss point. These moves come after the stock declined in 2024 from a high of 22.83 riyals, and it is currently showing signs of a potential trend reversal to face selling pressures.
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