Shaker's stock falls below key support

The performance of Al Hassan Gazi Ibrahim Shaker Company's stock has sharply declined in recent trading sessions, breaking through important technical support levels and settling at 10.70 SAR after losing the key support at 11.23 SAR. Technical analyses indicate ongoing selling pressure, with the stock entering a strong bearish phase supported by indicators such as the ADX, which shows the strength of the downward trend, and negative trend lines dominating the price movement. It is expected that the decline will continue if trading remains below the next support level at 10.51 SAR, with the possibility of approaching close to 10.03 SAR. The stock needs to close above 11.23 SAR to regain buying momentum, with a major resistance at 12.44 SAR preventing any medium-term upward movements.

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