ARABIAN DRILLING CO. (2381)The price action is moving in an ascending parallel channel and gives closing at 203 in the last trading session. First support lies in the range of 200-198 and second support around 190-188. If it sustains the support zone then buying opportunities will establish. On the flip side, resistance lies between 214-215, sustaining above can pull the price towards more upward. Close below 180 establish a bearish momentum.
AL-RAJHI COMPANY FOR COOPERATIVE INSURANCE (8230)Rejection occurs after making a high of SR 77 on 5th Dec’ 2023. Currently price is sustaining above 100-day EMA and accumulation in the share with increase in volume of 1.16 million is observed (pointed on chart) on 18th Jan’ 2024 which indicates upward momentum. The stock can be considered in a range of 66-63.50 with the stop loss below 59. On the flip side, resistance lies in the range of 75-77, sustaining above can pull the price more upward.