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Development stock faces resistance amid selling pressure
The stock of Development Food Industries is facing selling pressure near a key resistance level at 65.80 SAR, with technical signals indicating a loss of upward momentum. A noticeable increase in trading volumes suggests profit-taking close to the resistance level. Confirming a continued recovery requires a breakout and stabilization above 65.80 SAR; if achieved, the stock could aim for higher levels between 67.55 and 74.05 SAR, provided momentum persists. Conversely, breaking the support level at 62.55 SAR could reintroduce downward pressures and lead to further tests at lower levels. Since the beginning of 2026, the stock has failed to hold support at 58.60 SAR after falling to a low near 44.60 SAR, and is currently testing resistance to determine its ability to resume an upward trend.
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