After a prolonged correction from its all time high near 145 SAR, Stock has since been in downtrend, bringing price back into a major historical support zone around 60–65 SAR with a double bottom. This area has previously acted as an important demand zone and is now attracting attention again.
The long term trend remains bearish, with a clear sequence of Lower Highs (LH) and Lower Lows (LL) since the 2024 peak. However, markdown volumes has started to slow, suggesting sellers may be losing control.
Price is still trading below the major moving averages (20, 50, 100, and 200 MA), confirming that the primary trend remains negative.
gradual reduction in selling volume during the latest leg lower. This often indicates that aggressive selling pressure is fading.

Major Support
60–65 SAR
50 SAR

Resistance
75 SAR
90 SAR
100 SAR
120 SAR

Failure to hold the current support could expose the stock to another leg lower toward the 50s. A weekly close below this area would invalidate the developing base and keep the long-term bearish trend intact.

Disclaimer:
The information provided is for educational and informational purposes only. It does not constitute financial or investment advice. Trading and investing in stocks involves risk, including the possible loss of capital. Any decisions to buy, sell, or hold securities are the sole responsibility of the reader. Past performance is not indicative of future results. Always do your own research and, if necessary, consult with a licensed financial advisor before making investment decisions.