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Facilities tests resistance levels amid trend signals
The Musmak Electricity and Water Company (Makkah) stock is expected to experience a positive price movement after settling above the descending channel it had been trading within since May. The stock is currently attempting to test a key resistance level at 41.20 riyals. If it manages to confirm a breakthrough of this resistance with increased trading volume, it is anticipated to move towards levels between 42.12 and 42.75 riyals, reaching higher targets between 43.95 and 47.20 riyals. On the other hand, a breach below the support level of 39.50 riyals could send the stock back to lower regions, threatening the continuation of the downward trend. It is worth noting that the stock hit a low of 26.84 riyals in March 2026, before beginning to form reversal patterns that suggest a potential rise from current levels.
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