Lobreev's share waits for rally above support
Shares of Saudi Aramco's Foundation Oils "Lubref" experienced technical stability near key support levels amid attempts to overcome selling pressures and regain the upward momentum that began earlier this year. After breaking through an important resistance at 126.90 riyals, the stock recorded consecutive gains, targeting levels between 130.20 and 137.80 riyals. It then retested support at 123.30 riyals, showing strong absorption by buying forces at that level. Analysts link the stability of the price above 131.30 riyals to further upside potential, with resistance levels reaching up to 145.80 riyals, while emphasizing the importance of maintaining support at 127.80 riyals to avoid a possible decline toward 123 riyals. Since the beginning of 2026, the stock experienced a clear upward trend before a sharp dip in February; however, it regained its momentum thanks to increased trading volumes, and it continues attempts to stabilize above key supports and resistances in order to sustain the upward trajectory.
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