Wafra Shares Rise on Support

VFRA Food Industry and Development stock experienced a notable rise after testing a key support level at 21.20 SAR. The stock bounced off this support and rebounded to close at 22.77 SAR, with expectations of further upward movement towards resistance levels between 23.37 and 23.94 SAR, should it manage to surpass them. Conversely, a close below 21.79 SAR could weaken the chances of maintaining the upward trend and indicate the potential return to a downtrend. Historically, the current year started with an upward trajectory before facing selling pressures, which led to a decrease in its price. However, it managed to form a corrective structure supported by increased trading volume, with ongoing fluctuations between important support and resistance levels.

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