Leejam’s Technical Setup: Testing the Point of Control

Shares of Leejam Sports Company (Fitness Time) have staged a notable short-term rally on the Saudi Exchange, with the stock testing a pivotal technical barrier at SAR 78.70. The move has been accompanied by a clear pickup in trading volumes, a sign that buying interest has strengthened after months of predominantly bearish pressure.

The stock has spent most of 2026 trapped in a declining trend, tracing a series of lower highs and lower lows. It remains firmly below its long-term 200-day moving average, a classic indicator that the broader trend is still negative. The recent bounce, however, has brought buyers back into the picture, with the price now challenging a level that previously saw the highest volume accumulation – the so-called point of control (POC).

A sustained close above SAR 78.70 would be the first meaningful signal that the speculative rebound has legs, potentially opening the door to targets at SAR 80.45 and SAR 82.55. Should momentum build further, the next resistance sits at SAR 84.10. On the downside, failure to hold recent gains and a slide below SAR 76.30 would hand control back to sellers, risking a fresh leg lower. The major resistance that would need to be conquered to reverse the medium-term downtrend remains far above at SAR 91.40.

Behind the Price Action: What the Chart Patterns Reveal

A Struggle at the Point of Control

The SAR 78.70 level is not an arbitrary number; it represents the price where the heaviest trading volume occurred during the prior consolidation phase. When price returns to this zone, it acts as a battlefield between bulls and bears. A decisive close above it would indicate that buyers are absorbing the overhead supply, while a rejection would reinforce the prevailing downtrend.

Volume Confirmation and Momentum

The noticeable increase in trading volumes alongside the latest upswing adds weight to the technical picture. Higher volumes during an advance suggest institutional or committed buying rather than a low-conviction bounce. However, the stock's position below the 200-day moving average remains a cautionary note, reminding traders that the longer-term trend is not yet friendly.

Limited Fundamental Catalyst

This price action is driven purely by technical forces, with no accompanying news on earnings, expansion plans, or corporate developments. That makes the move entirely dependent on chart signals and momentum, which can reverse quickly if buyers fail to follow through. The key takeaway is that the SAR 78.70–76.30 zone will likely decide the stock’s near-term direction.