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Facilities share tests key resistance levels
The stock of Marafiq Electricity and Water Company in Jubail and Yanbu is experiencing an attempt to break through the key technical resistance at 40.12 Riyals. It had been moving within a declining price channel since the middle of the year, but has shown improvements in momentum. The price has reached levels close to resistance, with expectations of surpassing it and targeting levels between 41.04 and 42.12 Riyals. This could open new horizons for a rally and a return to the upward trend after hitting a low of 26.84 Riyals in March.
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