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Jabal Omar shares face key resistance amid volume surge
The Jabal Omar Development Company's stock in the Saudi market has seen strong attempts to breach key resistance levels after a period of sideways movement, recording a noticeable increase in trading volumes and buying momentum that support the possibility of resuming the upward trend. The stock successfully broke through a minor resistance at 16.20 riyals and continues to trade above the 16.46 riyals level, opening the door to technical targets between 16.83 and 17.00 riyals, and potentially higher. However, caution is advised to avoid a decline below 15.92 riyals. These moves suggest a possible beginning of an upward wave following a phase of fluctuation throughout the first half of 2026.
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