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Al-Awal stock tests resistance at 34.62 riyals
The share of the Saudi First Bank is moving within a sideways range between a support level at 30.55 riyals and a resistance at 35.80 riyals, with a temporary decline following a correction wave in 2024. The level of 34.62 riyals is considered a key resistance; any breakout above it and sustained above could signal a move towards higher targets at 35.36 and 35.80 riyals. Conversely, breaking below the support at 33.35 riyals may lead to a decline toward 32.82 riyals. The movement’s direction depends on the continuation of buying momentum and liquidity availability, and the overall trend remains contingent on whether resistance or support levels are broken.
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