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Abu Mo'ti's Share Rises Briefly During Sell-Off
Abdullah Saad Mohamed Abu Moati Bookstore Company's share experienced a short-term rise after a decline in September, as it regained stability above important support levels around 30.45 riyals, supported by improved trading volumes indicating the entry of buying power. Despite this rebound, the stock is still trading below the key moving averages (50 and 200 days), suggesting that the overall trend remains negative in the short and medium term. The stock is expected to face resistance at 33.28 riyals, and if it successfully breaks through this level with trading momentum, it could target higher levels up to 35.95 riyals. Conversely, if it falls below 31.84 riyals, a continued decline is likely, with the stock testing new lows and ongoing negative pressures on its overall performance.
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