Al-Hafar Al-Arabiya's share tests resistance levels
The Arab Drilling Company’s stock recorded positive technical movements after breaking through the main downward trend line, accompanied by the formation of bullish price patterns and stability above the 50- and 100-day moving averages. This supports expectations of further upward movement. Analyses indicate that the stock faces a psychological resistance at the 101.40 riyal level, and if it manages to stay above it, it could extend towards the range of 104.00-106.30 riyals, with the possibility of targeting 110.60 riyals. Conversely, breaking below the 96.95 riyal level could lead to a correction. Trading volume increased with the recent breakout, marking a turning point in the stock’s technical path after a dip early in 2026, which enhances the prospects of maintaining the upward trend in the short and medium term.
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