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Development share faces resistance amid selling and growth hopes
The stock of Development Food Industries faces significant resistance at the 65.80 riyal level, with technical signals indicating a decline in buying momentum due to increasing selling pressure. This is accompanied by higher trading volumes. Continued recovery and confirmation of the uptrend will require a breakout above this level and stable trading above it, potentially opening the way toward higher levels reaching 74.05 riyals. On the other hand, breaking below the 62.55 riyal level could push the stock downward again, as the stock has been declining since the beginning of 2026 after breaking a major support at 58.60 riyals. It is currently in a phase of attempting to form a new price base.
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