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Kayan Saudi tests resistance amid rising volumes
The share of Saudi Kayan Petrochemical Company is currently testing a key resistance level at 5.03 Riyals, after a rise and heavy trading activity pushed it close to this threshold. Technical analysis indicates that its movement continues to expand within a range characterized by previous selling pressures. It is expected that if the stock successfully surpasses this resistance and remains above it, it could open the door for further gains toward levels between 5.15 and 5.45 Riyals, provided that the current bullish momentum remains supported. The main support level is at 4.70 Riyals. Achieving stability above this point is important to maintain the positive outlook. It is worth noting that the stock started the year at lower levels before fluctuating and trading within a narrow range so far.
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