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Aluminum stocks decline amid selling
The Arab Pipes Company (ANAPIPE) shares are experiencing strong selling pressures that have broken through key support levels, settling into a downtrend that reflects sellers' dominance in trading. The stock's price has fallen below the support zone between 4.85 and 4.90 riyals, with attempts to test resistance at those levels. However, selling pressure has turned these into resistance levels, reinforcing expectations of further declines. Technical indicators show weakening momentum, with a potential dip to levels between 4.68 and 4.74 riyals, and possibly testing the 4.54 riyal level as future support. Since early 2026, the overall trend had been upward, but it has shown signs of reversal and a lack of bullish catalysts in the market. Close monitoring is advised, as the possibility of continued decline remains, given the technical weakness.
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