Riyadh - Mubasher: Jarir Marketing Company is trading at SAR 17.48, up 1.57% so far in Tuesday’s session, marking a new 52-week high for the consumer cyclical stock.
The equity is currently trading above its key technical benchmarks, with the 20-day Simple Moving Average (SMA) at 16.69, the 50-day SMA at 15.93, and the 200-day SMA at 14.23.
Technical oscillators show a Relative Strength Index (RSI) of 65.47 and a Moving Average Convergence Divergence (MACD) of 0.403.
The Average Directional Index (ADX), which measures trend strength, stands at 25.56. The price movement follows the company's announcement regarding the opening of a new showroom on Al Madinah Road in Jeddah, a location that replaces its previous showroom on King Abdulaziz Road.
Jarir also recently disclosed the results of its Ordinary General Meeting (OGM) to the Saudi exchange (Tadawul). The stock remains in active session as part of the broader Tadawul market.
