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Naqi stock resumes upward trend
Naga Water Company's stock shows a noticeable technical improvement after breaking through the descending trend line since 2023. It exceeded the resistance level at 55.75 riyals and has maintained above 57 riyals, which enhances the chances of continued upward movement to 58.35-59.05 riyals, and possibly higher if liquidity and buying momentum persist. Historically, the stock began 2026 with an upward trend; it faced pressure in February but recovered afterward following a sideways movement in March and April. Breaking above 64.80 riyals remains a key condition for a stronger upward trend, with support at 54.95 riyals to maintain the recovery path.
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