MBC's share falls to record low
The MBC Group stock price declined to its lowest level since listing at 18.10 riyals amid continued selling pressure and a break below key technical support levels, especially after breaking the support at 20.73 riyals, which was a significant point in the stock's movement. This coincided with a breach of the historic support level at 27.50 riyals, leading to ongoing decline and failed attempts to regain support. Currently, the 19.04 riyals level is considered a nearby resistance, and the stock's stability above this level could open the way toward 19.51 riyals and 19.95 riyals. Conversely, a break below the expected historic low might reinforce selling waves and push the price down to 17.44 riyals. The downtrend dominates the stock, with monitoring of resistance levels and trading volumes necessary to assess the prospects of a recovery or continued decline.
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