Kayan Saudi Arabia tests support amid buying
The share of Saudi Kayan Petrochemical Company has stabilized above key support levels after a strong upward wave, with solid technical performance surpassing the resistance at 5.17 Riyals and aiming for levels between 5.29 and 5.56 Riyals. There is also potential for the stock to reach higher zones between 5.74 and 5.89 Riyals, provided it remains above 5.37 Riyals. It is worth noting that the stock started the year at a low point and has fluctuated between support at 4.50 Riyals and resistance at 6.42 Riyals, with continued consolidation above the 5.17 Riyar level, which is considered a fundamental threshold for sustaining the bullish trend. If buying activity persists, there is a likelihood of further upward movement in the coming period.
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