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Amalk's shares recover from annual lows
Almalak Global Company's stock experienced a strong technical rebound after approaching the year's low, supported by a significant increase in trading volumes that helped stabilize it above key technical levels. Analyses indicate positive signals, such as the Relative Strength Index (RSI) breaking above 50 and the stock crossing above the 21-day moving average, which enhance prospects for targeting higher levels up to 8.70 and 8.95 riyals, provided that cash flows continue. However, the 8.15 riyals level remains a crucial support point, as the stock previously retreated to its lowest annual level at 8.13 riyals; it is essential to stay above this level to maintain the recovery path.
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