Al-Majnarm shares rise amid higher trading volume
The Almunajem Food Company stock has experienced positive shifts in recent trading sessions, successfully surpassing a key resistance level at 57.00 riyals supported by increased trading volumes. This indicates the beginning of a secondary upward trend following a period of volatility since the start of the year. Breaking through and retesting this resistance as a support zone is a significant step toward reinforcing the upward movement. The stock continues to remain above the moving averages, facing a resistance level at 65.45 riyals, which needs confirmation to sustain the expected rise between 66.95 and 68.75 riyals. There is potential to reach targets near 70.90 and 73.60 riyals. However, failure to maintain stability below 63.10 riyals could cause the stock to retest a previous price gap at 61.95 riyals.
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