Electrical Industries share faces selling pressure
The share of the Electrical Industries Company has recently experienced a decline during its latest trading sessions, as it faces selling pressures and has retreated to key support levels after strong gains earlier this year. The stock fell below the previous support level at 14.40 riyals and is now testing a major support at 13.52 riyals. If the decline continues below this level, it may further fall toward 13.17 riyals and then 12.90 riyals, potentially extending to 12.26 riyals if selling pressures persist. After reaching a peak of 19.46 riyals in April, the stock's trajectory shifted to a downtrend. To regain stability above 16.00 riyals and signal a return to an upward trend in the short term, these levels need to be maintained.
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