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PCI share breaks support levels
The Basic Chemicals Industries Company (BCI) is facing strong selling pressures after breaking a major support level at 24.10 Riyals, leading the stock to decline to 23.30 Riyals. Further decline is expected if it breaks support between 22.68 and 22.80 Riyals, with the possibility of reaching 21.00 Riyals if pressures continue. The performance will remain dependent on a return to trading above the range of 24.10 – 24.50 Riyals, as doing so would indicate a potential pause in the decline and the start of a stabilization phase.
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