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Al-Tameer shares test key support amid decline
The article discusses the performance of Riyad Development Company’s stock in 2026, which is currently experiencing a period of technical caution as it tests key support levels after sharp declines. The stock is approaching a support level around 15.27 riyals and faces resistance at 17.25 riyals. It is worth noting that the stock opened the year at 22.80 riyals and continued to decline steadily until March, after which it entered a sideways movement before dropping below the 17-riyals level. Technical analyses indicate that the stock needs to stabilize above 19 riyals to exit the downward trend. There are expectations of a potential rise toward 18.50 riyals if positive momentum continues, while a break below 16.50 riyals could send the stock back into a decline. With the ongoing downward trend since last year, achieving a significant technical turnaround requires the stock to stabilize above 19 riyals.
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