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Al-Drees' share rises on technical signals
The shares of Al-Drees Petroleum Services and Transport reversed from a key support level at 112.20 SAR after a decline that began last April, reaching a low of 105.30 SAR in July. However, the stock is now beginning to trend clockwise, supported by positive technical indicators including a MACD crossover, with trading volume stabilizing around its average. The stock is expected to face resistance levels at 118.00 SAR and 120.00 SAR, with a stop-loss set at 110.05 SAR. The outlook remains bullish if the stock manages to surpass these resistance levels, following a period of downward performance and a decline from its previous peak at 134.02 SAR.
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