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Jabisco Shares Test Support Amid Decline
The share of Al-Jisr National Cement Company "Jusco" is experiencing ongoing selling pressure, having lost its main support and rebounded to lower price levels. After breaking through the significant support level at 12.60 SAR, the stock is heading toward a target price of 11.62 SAR, with the possibility of further decline between 10.68 and 10.37 SAR if it cannot maintain the support level at 10.94 SAR. On the other hand, maintaining stability above 11.50 SAR is required to open the possibility of a rebound toward the resistance at 12.30 SAR. Additionally, an improvement in momentum and cash flows is necessary to achieve any short-term recovery.
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