19 Hrs
Source:
مباشر
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Al-Minanjem tries to rebound above moving averages
Al Munajem Food Company's share is aiming to regain its upward trend after previous declines. Currently, it is testing the resistance level at 54.00 riyals, supported by increased trading volume, which indicates that buying forces are trying to take control of the market. The stock is striving to stay above the 9-day exponential moving average, which is a preliminary sign of the end of selling pressures. A critical stop-loss level is set at 52.35 riyals. Analysts' forecasts point towards an initial target at 55.60 riyals. If the share manages to break through this level and remains above it, there is potential to reach 57.00 riyals, then 59.50 riyals as higher targets. Conversely, if the decline continues below 52.35 riyals, the negative momentum for the stock may resume.
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