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Al-Tameer's share aims to break key resistance
The Riyadh Development Company's stock has made a serious attempt to break through the main resistance level by targeting its 200-day simple moving average. This move is supported by the formation of positive technical patterns and buy signals from the short-term moving average crossovers. The aim is for the stock to exit the sideways or downward trading range and begin a new stabilization phase, with projections of reaching price levels of 17.35 and 18.70 riyals if buying momentum continues. Meanwhile, the 16.35 riyal level serves as a critical point to stop potential losses. This movement comes after a period of decline in 2024, during which the stock hit a low of 15.20 riyals, amid signs of a rebound and improvements in technical performance.
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