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Al-Wafra shares face key resistance levels
Al-Wafra Company for Industry and Development's stock is currently testing key resistance levels near 21.66 Riyals after forming a strong support base at 20.26 Riyals. It has managed to recover part of its previous gains and is now observing the potential to break above the resistance level to strengthen the upward trend, especially with increased trading volumes and liquidity inflows. The stock is expected to reach price targets between 22.18 and 23.30 Riyals if buying pressures continue. It is crucial to maintain profit protection at 20.75 Riyals to minimize risks. Since the beginning of 2026, the stock has risen to 23.90 Riyals before pulling back, and its short-term technical stance remains inclined towards a downtrend until new positive signals emerge.
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