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Naqi's share tests resistance amid mixed signals
Naji Water Company’s stock has stabilized around the 59.30 SAR level, with efforts to break through its nearest secondary high, supported by positive momentum indicators and increasing trading volumes. This suggests the potential for continued upward rebound. The stock remains above key support levels such as the 21-day and 50-day moving averages, with price targets reaching 60.10 SAR, 61.00 SAR, and up to 63.40 SAR. However, investors should watch for possible selling pressure at higher levels. If the stock fails to maintain support at 57.95 SAR, it could decline to lower levels. Nonetheless, historical performance indicates a tendency to resume its upward trend after a period of fluctuation.
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