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BCI share hits support levels
The share of the Basic Chemical Industries Company "PCI" is experiencing strong selling pressures as it approaches critical technical support levels around 22.55 riyals. Technical analyses indicate that the decline may continue unless the resistance level at 23.00 riyals is broken. The stock's decline began in 2026, entering a downward trend that continued until March, with failed recovery attempts leading to a new decline in October, accompanied by a clear weakness in buying momentum and heightened selling pressures. If the selling strength persists and demand levels decrease, the price is expected to head towards 21.00 riyals. Conversely, breaking the resistance at 23.00 riyals might ease the pressures and provide opportunities for short-term stability.
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