Al Nahdi shares near historic support

Nadec Medical Company’s share has temporarily stabilized above a key support level at 91.00 SAR, following noticeable technical fluctuations due to repeated selling pressure. Despite the stock holding firm at this support, technical indicators suggest that a downward trend remains dominant, as it is trading below the 50-day and 200-day moving averages. The analysis indicates that breaking through the 93.25 SAR level with increased trading volume could boost the chances of a short-term upward wave, potentially reaching between 95.50 and 96.60 SAR. If the stock manages to surpass these levels, it may target higher levels between 98.75 and 101.00 SAR. It is essential to maintain the historic support level at 89.90 SAR to help mitigate future declines.

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