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Al Rajhi Takaful's shares face selling pressures after breaking pivotal support levels

Al Rajhi Takaful's shares face selling pressures after breaking pivotal support levels

Takaful Al Rajhi's stock has declined significantly after failing to maintain key support and resistance levels, as it broke below the support at 51.45 riyals, with decreasing trading volumes indicating selling pressure. Technical analyses suggest that upcoming corrective targets range between 48.66 and 47.70 riyals, and the decline could extend to lower levels between 45.78 and 43.50 riyals if selling pressure continues. Achieving positive momentum recovery depends on surpassing the sub-resistance level at 55.30 riyals, which could help restore balance and support a rebound.

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