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Petro Rabigh share nears resistance
Riyad Bank's share of Rabigh Refining and Petrochemical Company (Petro Rabigh) is approaching an important technical resistance level amid improvements in momentum indicators. After successfully surpassing the previous resistance at 12.79 SAR, the stock has been driven towards levels of 15.24 SAR—a key technical and psychological barrier. The outlook remains positive with continued gains if buying momentum stays strong and the stock maintains its stability above this level. Investors are watching the support levels at 14.23 SAR as a safeguard against potential price corrections. Expectations remain for further upward movement toward areas between 16.40 and 16.90 SAR, based on the stock's performance since the start of the year and current market conditions.
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