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"PSF" faces selling after new high
The Saudi French Bank's "P.S.F" share has declined from its historic levels after a period of strong gains that began in early 2026. The stock experienced selling pressure that led to a break below important support levels. Technical indicators suggest a dominant short-term downtrend, with the stock's momentum deteriorating below the 50-day moving average and the key support level at 20.55 riyals. This could open the door to testing lower support levels between 20.03 and 19.81 riyals. The 19.80 riyal level remains critical for maintaining the overall trend balance. Despite corrective movements during April and May, the stock regained momentum and rose to almost 22.50 riyals. However, profit-taking in September caused gains to retreat, and the ongoing correction may continue unless the stock recovers and trades above the 21.23 riyal level, which could restore balance and allow for testing resistance levels around 21.80 riyals.
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