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Modern Mills nears double bottom confirmation
Modern Mills' stock continues to move within a sideways range at the beginning of 2026, after successfully bouncing off a key support level near 28 Riyals, supported by a gradual improvement in momentum and increased trading volumes. The stock is now aiming to break through the 29.30 Riyal level to confirm the continuation of the corrective trend towards targets between 29.95 and 31.55 Riyals, with it being essential to maintain the 28 Riyal level to avoid a return of selling pressures. Technical analysis is being used to examine the stock's movement amid current market conditions.
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