PSF Share Tests Key Support Levels

The Saudi French Bank (P.S.F) stock has recently experienced notable declines, settling below the 50-day and 100-day moving averages, indicating a short-term bearish trend. However, the stock has shown an attempt to stabilize around a key support level, with the emergence of a technical pattern suggesting cautious buying interest aimed at curbing the decline, especially with the formation of a hammer candle indicating rejection of lower prices. For technical stability, the stock must break above the 20.00 riyal level; if successful, it is expected to move towards resistance levels between 20.47 and 20.70 riyals, with a major resistance at 21.16 riyals. Conversely, breaking below the support level of 19.43 riyals will increase the likelihood of continued decline, pushing the price lower. Since the start of 2026, the stock rose from 16.60 riyals to 20.05 riyals in the first quarter, before entering a correction wave. Nevertheless, it maintained its upward trajectory, surpassing its previous high at 21.44 riyals and recording a peak at 22.50 riyals, before retreating in September due to strong profit-taking. The 19.40 riyal level remains the most critical support; breaking below it could signal a new wave of decline. Monitoring this level is essential to determine the stock’s next direction.

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