KEMENAUL share rebounds on demand
Shares of Methanol Chemicals "KEMAPCO" experienced a noticeable rise after rebounding from a critical demand zone between 26.50 and 27.10 SAR, supported by increased trading volumes indicating strong buying interest. The stock needs to surpass the resistance level at 30.42 SAR to continue its upward trend, with a target of reaching higher levels up to 32.62 SAR. There is a possibility of testing the support level at 31.40 SAR before resuming its ascent. The stock faces a psychological resistance at 34.05 SAR, and it is expected to aim for targets between 34.88 and 36.95 SAR if it can stabilize above these levels. It is important to protect profits at 31.40 SAR to avoid a decline in price. Overall, the stock began trading in 2026 near its lowest historical level at 31.55 SAR but encountered resistance at 43.50 SAR, which led to a previous pullback, reflecting challenges in maintaining the short-term upward momentum.
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