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Bawan shares rise with higher volumes
The Poone Company's stock has shown a noticeable improvement in its technical performance over the recent sessions, successfully regaining its stability after a wave of declines that led to a decrease in its market value. This coincided with a gradual increase in liquidity levels and trading volumes, reflecting efforts to build new price positions after the stock reached lower levels. Technical analyses indicate that surpassing the price of 35.96 riyals, coupled with active trading, could enhance the chances of a short-term recovery, with initial targets around 36.84 and 37.84 riyals, and potential levels between 38.60 and 39.80 riyals. The 34.36 riyals level is considered a major support. Since the beginning of 2026, the stock has been on a downward trend, forming lower highs, declining from levels around 51 riyals to about 33 riyals, amidst ongoing selling pressures and prices below key support levels.
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