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Masaffi share tests key resistance levels
The Saudi Arab Petroleum Refining Company (Al Mṣāfī) stock has shown significant technical movements, approaching a major resistance level at around 55.20 riyals. This follows its successful突破 of the 51.40 riyal level, supported by increased trading volumes. The market is currently focused on the stock’s stability above this level to boost the chances of continuing the upward trend toward higher levels, including resistance at 56.60 riyals, with potential targets of 58.45 and 60.55 riyals if positive performance persists. It is worth noting that the stock has been in a downward trend since 2024, but it is now showing signs of technical recovery, stabilizing above key support levels, although there are warnings of risks of decline if the support at 52.95 riyals is broken.
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