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FIBCO shares rise on higher volumes
The share of Packaging Materials Manufacturing Company "Vibco" recorded a positive performance supported by breaking through important technical levels and increasing trading volume. It managed to surpass the 36 riyals level, with the potential to reach 39.50 riyals in the near future. Technical analysis indicates that maintaining the price stability above 39.60 riyals supports the continuation of the uptrend, with prospects of reaching 42.70 riyals if it manages to break through resistance zones between 40.55 and 41.44 riyals. Highlighted is also the importance of protecting profits at the 37.60 riyals level to reduce the risk of a pullback, while monitoring historical performance and the emerging upward secondary trend that has been forming since breaking a descending trend line last September.
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