Al-Awwal stock tests resistance at 34.62 Riyals

The Saudi First Bank stock is facing a major resistance level at 34.62 SAR, which is a pivotal point determining the stock’s short-term trajectory. Technical analyses indicate that a breakout above this level and sustained stability could open the way to target levels of 35.36 and 35.80 SAR, with the possibility of advancing further to 36.72 and 37.80 SAR if buying momentum continues and adequate liquidity is available. Conversely, breaking support at 33.35 SAR could lead to increased selling pressure, pushing the stock to test the 32.82 SAR level. The stock is moving within a sideways range between 30.55 and 35.80 SAR, following a correction wave in 2024, and its future direction depends on the stock’s ability to break through or breach the specified resistance and support levels.

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