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Saudi Re-Insurance faces key resistance
The share of Saudi Reinsurance Company (Re) is facing critical resistance levels within a sideways trading range in the Saudi stock market, oscillating between support at 23.90 SAR and resistance at 29.10 SAR. The stock started the session positively with an upward gap near the resistance level. If it manages to break through the 29.10 SAR level with high trading volume, it is expected to move toward higher levels between 29.92 and 30.55 SAR, potentially reaching the next resistance at 31.45 SAR. Conversely, continued hesitation at the resistance could keep trading within the current range, with support tested at 27.80 SAR. In 2026, the stock experienced noticeable price fluctuations, initially in a sideways range and showing a secondary downtrend before a corrective rebound, maintaining strong support at 23.55 SAR. This keeps the position sensitive to any movement toward the recent support or resistance levels.
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