Al-Dawaa stock hits key technical levels

The share of the Saudi Pharmaceutical Industries and Medical Supplies Company (Spimaco Pharmaceuticals) recorded significant technical levels during recent trading sessions after successfully breaking through a key resistance at 29.30 riyals. This breakout led to an expansion in upward momentum, with expectations of the price continuing to rise toward the next resistance levels between 31.46 and 31.66 riyals, and possibly reaching 32.55 riyals, heading into an area of supply between 33.05 and 33.70 riyals. However, the stock faces challenges due to a slowdown in buying momentum and decreasing trading volumes, with a key support at 25.40 riyals. Maintaining the upward trend depends on holding above 29.30 riyals, as failure to stay above this level could lead to a potential pullback in the price.

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