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Al-Masafi share rises despite trend
The Saudi Refining Company's stock is showing a noticeable technical reversal after breaking the main downtrend that has been in place since October 2024, supported by increased trading volumes and surpassing the 55.20 Riyal level. This has reinforced expectations of targeting new levels that could reach up to 67.40 Riyals if buying momentum continues. The stock started 2026 with selling pressure that persisted until June, finding support at 44.50 Riyals. However, it began to rebound from the current support at 52.90 Riyals, with technical confirmations indicating that a close above 60.60 Riyals is necessary to open new upward opportunities. The report emphasizes the importance of maintaining support and resistance levels to ensure the continuation of the upward trend and avoid a return to decline, with expectations that price targets will expand based on the persistence of buying momentum.
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