Al-Drees stock recovers on technical signals
Al-Drees Petroleum Services and Transportation Company's stock rebounded from a major support level at 112.20 SAR, after a decline that began in April from a high of 134.02 SAR. The stock showed positive technical indicators, such as a crossover on the MACD, indicating an attempt to reverse the downtrend that has persisted since the second quarter of the year. Analysts expect the stock to target the 118.00 SAR level as the first resistance. If it successfully surpasses this level, the next targets are 120.00 SAR and then 125.00 SAR. A stop-loss level has been set at 110.05 SAR to protect capital in case the stock retreats again, assuming the positive momentum continues.
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