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Fibco shares stay on rise after support
FIBC Co. (2030) stock remains in its upward trend after confirming technical support levels. It successfully broke through a significant resistance zone between 31.15 and 31.34 riyals, turning it into strong support. The technical movement indicates that the stock is trading above the descending trend line extending from September 2025, with ongoing stability above the 33.00 riyal level. This supports the potential targeting of areas between 33.82 and 34.64 riyals, with a possibility of testing the 35.40 riyal level if momentum persists. It is important to monitor any decline in trading activity below 32.02 riyals, as this could lead to renewed selling pressure and some corrections towards the support at 31.15 riyals. Overcoming the resistance at 33.95 riyals remains crucial to ensure the continuation of the positive trend.
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