Wataniya shares decline to annual lows
Walfa Factory for Industry and Development's stock faced strong selling pressure, breaking through the Bollinger Bands indicator and approaching its lowest levels of the year at 17.22 SAR, a level it previously reached in March. This decline was accompanied by increased trading volumes. Technical analysis indicates that the stock is heading toward key support levels at 17.22 SAR; if this level is broken, the decline could extend to 16.75 SAR and then to 16.35 SAR. Conversely, holding above 17.75 SAR may reinforce attempts at stabilization and halt the downward momentum. The highest peak of 2023 was at 25.64 SAR in July, before a corrective decline ensued, amid ongoing trading pressures and volatile trading activity.
Notice: This Is an AI-Generated Summary
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