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Al-Babtain Consolidates

Al-Babtain Consolidates

Al-Babtain Power and Telecommunications’ stock has shown signs of consolidation after a decline that began in June, with trading volumes rising and a bullish crossover in the moving averages and MACD. It is trading at SAR 45.66 after touching a low of SAR 41, compared with a peak of SAR 74. A potential reversal of the downtrend depends on holding above resistance at SAR 46.25, with targets at SAR 47.45, SAR 48.60 and SAR 50.90. A drop below support at SAR 44.75, however, would signal a return of selling pressure.

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