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Chemical stock faces continued decline
The Saudi Chemical Holding stock continues to decline due to selling pressures, bringing it close to key support levels at 6.36 riyals, with a continued short-term downtrend. The stock closed near 6.56 riyals, with expectations of further pressure toward levels of 6.18 and 6.02 riyals if the decline continues. Successfully regaining above 6.74 riyals is crucial for improving the technical outlook, but the overall trend remains negative over the medium term. To resume an upward movement, the stock must break through resistance at 7.60 riyals.
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