Printing and Packaging shares test axial support
The Saudi Printing and Packaging Company’s stock has shown a significant rise, benefiting from increased trading volumes and improved buying momentum. It successfully broke through the 8.14 riyal level and is heading toward achieving targets between 8.34 and 9.00 riyals, with resistance at 9.24 riyals confirming the continuation of the upward trend. If trading remains above 8.85 riyals, the stock may move toward levels between 9.45 and 10.35 riyals. Conversely, a decline below 8.85 riyals could bring it back to its previous range around 8.63 riyals. The stock hit a recent low near 6.20 riyals in March after breaking through a historic support level, but then managed to break out of the previous range, which enhances the likelihood of continued positive performance.
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