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Gipsco Shows Buying Shift
National Gypsum Company’s (“Gipsco”) shares have shown positive technical signals after breaking above the upper Bollinger Band and forming a higher low at SAR 9.80, above the annual low of SAR 8.89. The Relative Strength Index also moved above 50. The technical analysis sets first and second targets at SAR 10.76 and SAR 11.05, with a break above resistance at SAR 11.20 required to reach SAR 11.55. SAR 10.05 is the stop-loss level; trading below it could weaken the positive momentum and return the stock to a sideways or downward trend.
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