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Al-Saham Production Records Price Rebound from Historic Levels Driven by Increase in Buying Momentum

Al-Saham Production Records Price Rebound from Historic Levels Driven by Increase in Buying Momentum

The share of the Arab Agricultural and Industrial Investment Company "Entaj" recorded a rise after bouncing back from its lowest historical level at around 23.40 riyals. This increase was supported by higher trading volumes and strong buying momentum, as the share surpassed the main resistance level at 25.45 riyals and continued its upward movement to close at approximately 28.96 riyals. Analyses indicate that the area between 29.70 and 30.45 riyals is considered the target for the next resistance, with the potential to reach 31.07 and 31.55 riyals if momentum persists. Despite this positive performance, the stock remains within a downtrend that started at the beginning of the year, and surpassing the 32.40 riyal level is necessary to confirm a breakout from the downward trajectory.

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