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Ezmar's share targets technical support Amid selling pressure
Emaar The Economic City’s stock is witnessing efforts for a technical rebound and consolidation above support levels after sharp declines that brought it close to its lowest levels in the past six months. The stock is currently trading around 9.20 riyals and is testing its ability to break through the resistance level at the middle band of the Bollinger Bands, which could lead to price targets between 9.50 riyals and 10.20 riyals if it successfully pushes upward. If the stock fails to maintain support at 9 riyals, breaking below it could deepen the downward trend, causing the price to return to its previous lows near 9.06 riyals, amid continued selling pressure affecting overall performance. This occurs amid investors’ attention to trading volumes and observed research activity, indicating a cautious and awaiting stance in the market.
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