Riyadh – Mubasher: First Avenue for Real Estate Development Company’s shares declined by 8.23% to SAR 3.01 in intraday trading, positioning the financial sector firm on the top losers list.
Technical data indicates the stock is trading significantly below its key moving averages, with the SMA20 at 3.79, SMA50 at 4.29, and SMA200 at 4.44.
The Relative Strength Index (RSI) has reached 20.63, signaling oversold conditions, while the Moving Average Convergence Divergence (MACD) remains negative at 0.305. The Average Directional Index (ADX) is 15.53.
Recent corporate activity includes the signing of Shariah-compliant banking facilities with Saudi Awwal Bank (SAB) and a tripartite contract with the Royal Commission for Makkah City and Holy Sites and Jadwa Investment.
The company also announced the completion of depositing proceeds from fractional share sales following a capital increase.
The current price represents a continued downward trend from the 200-day moving average of 4.44 as the stock faces sustained selling pressure despite recent operational disclosures.
