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Arabiya Nears Resistance

Arabiya Nears Resistance

Shares of Arabian Contracting Services Co. are nearing resistance at SAR 49.40, supported by a bullish crossover of the 9-day and 21-day moving averages. This follows a breakout above the 200-day simple moving average on November 8, accompanied by high trading volume. Holding above SAR 49.40 is necessary to continue the upward move toward targets of SAR 50.65, SAR 51.90, and SAR 54.35, while SAR 47.25 represents the stop-loss level.

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