Aslak share steady at 17.96 riyals

The share of Etihad For Wiring Industries Company "Aslak" shows stability above the support level of 17.96 riyals, amid an improvement in buying momentum and increased trading volumes. This enhances the prospects of resuming the upward trend after a previous decline that broke below 18.10 riyals, which led to a drop to 15.15 riyals. Analyses indicate that continued buying momentum and a break above 19.45 riyals could open the way for higher levels between 19.21 and 20.60 riyals, while trading below the range of 17.75-17.96 riyals might reintroduce selling pressures. This movement is considered an extension of a previous downward trend, and it is crucial for the stock to stay above 19.45 riyals to confirm a trend reversal towards the upside.

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