- Naranj Research Desk
- 🇸🇦 Saudi Stock Market
- 🇺🇸 USA Stock Market
The Saudi market is currently under strong selling pressure, and the Real Estate & Management sector is moving in the same direction.
Recently, the sector index slipped below the lower line of its ascending parallel channel. This breakdown is important because it signals that the previous uptrend has weakened, and sellers are taking control. As a result, bearish momentum is increasing.
The index is now trading near the 3200 level. If this weakness continues, the next major support area lies between 3000–3050, where buyers may try to defend the level.
Stock moving in the same direction:
Arriyadh Development (Tadawul: 4150)
This stock is also showing weakness similar to the sector. It has broken below its own descending parallel channel, which usually suggests that the downtrend could extend. As long as it stays below this breakdown area, the stock may continue to drift lower.
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