Reidan's stock seeks stable levels after record low

The shares of Rayan Food Company are aiming to establish a stable price base after recording a historic low near 13.00 riyals, amid efforts to boost positive momentum and overcome the recent selling pressures. The stock has been trading within a sideways range for several months, with the goal of absorbing selling and maintaining stability above the key support level of 14.66 riyals—an essential factor for improving short-term technical performance. There is potential to test higher levels between 14.99 and 15.36 riyals. Breaking above the resistance of 15.48 riyals is necessary to sustain future gains, while maintaining support at 14.20 riyals is crucial to avoid a return to decline, especially since this support level is significant as it precedes the previous historic low.

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