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Al-Rashed Stock Rebounds

Al-Rashed Stock Rebounds

Shares of Saleh Abdulaziz Al Rashed & Sons Co. staged an upward rebound at the start of the November 5 session, following selling pressure in October and a touch of an all-time low of SAR 34.04. The stock reached SAR 36.34, up 2.08%, after closing the previous session at SAR 35.60, and held above its 50- and 100-day moving averages. The analysis suggests that staying above support at SAR 34.70 could open the way to targets of SAR 38 and SAR 39.68, provided momentum and liquidity persist. A break below support, however, could lead to a decline toward SAR 34.26. Resistance at SAR 44.35 remains a key barrier to a reversal of the broader downtrend.

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