Amalak shares rebound from annual lows amid cash inflows
The Am lak Global for Finance stock has experienced a noticeable technical performance turnaround after nearing the year's lows. It rebounded strongly supported by an exceptional increase in trading volumes, allowing it to stabilize above key technical levels. The stock showed positive technical signs, including the appearance of a strong bullish candlestick and an improvement in the Relative Strength Index (RSI), which broke above the 50 level and moved toward price targets of up to 8.95 Riyals, with a significant resistance zone between 8.90 and 9.20 Riyals. Although the stock has maintained stability above the 21-day exponential moving average, its continued upward movement depends on sustained cash flows. Importantly, the 8.15 Riyals level is considered a critical stop-loss point. This rebound indicates the potential for a trend reversal after a long-downtrend period, shifting from a high of 11.21 Riyals to a low of 8.13 Riyals. However, the negative scenario remains in place if the stock fails to hold its current levels.
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