'Pipes' tests key technical levels ahead of price trends

The performance of Arab Pipes Company ("Anabeeb") stock has experienced important technical movements, as it is currently testing previous support levels that have turned into resistance. A head and shoulders pattern has also emerged, indicating a possible trend reversal. The stock has lost the neckline between 6.55 and 6.70 SAR and is now facing resistance at this level, with the potential to decline to 6.40 and 6.28 SAR if selling pressures continue. A close above 6.70 SAR could give it an opportunity to ease the decline and regain an upward trend.