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Kemya seeks to restore technical balance after record highs
Methanool Chemicals Company (Kimanol) stock is seeking to restore its technical balance after reaching historic price levels. It rebounded from a demand zone near the historic low around 26.44 riyals, supported by increased trading volume and the formation of buying pressures. Currently, the stock faces a key resistance level at 30.24 riyals; breaking through this could open the way to target levels between 30.92 and 31.55 riyals, with the potential for an upward extension to 32.62 riyals. Although the stock has recently shown strong movements, its continued upward trend depends on its stability above major support and resistance levels, with a risk of decline if it fails to maintain performance above 29.10 riyals.
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