Qaw for Communications stabilizes at support levels
The article reviews the performance of Shawarikh Cables Company (STC) stock in the Saudi market. The stock was traded at 72.95 SAR after sharp declines but shows signs of stabilization at key support levels. Technical signals include the appearance of a reversal candlestick and high trading volumes, which reinforce the likelihood of a rebound and an increase in the stock price. The initial target is set at 75.05 SAR, with a further increase to 77.05 SAR if the first resistance is surpassed. Caution is advised in case the stock breaks below 70.25 SAR, as this could lead to additional declines. The stock's performance has been characterized by a balancing act between buying and selling pressures since early 2026, remaining within a broad sideways range between 70.65 and 101 SAR. Analyses suggest the possibility of continuing the corrective trend or a short-term recovery, depending on whether support levels are maintained.
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