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Mutoor stock shifts trend toward support
The stock of the Saudi Industrial Development Company ("Mutawira") experienced a sharp decline after breaking out of the price range that had been controlling its performance throughout September. It breached important technical levels and is currently facing intense selling pressure. Analysts expect that continued decline could push the stock toward key support levels at 13.50 and 13.11 riyals. However, if the stock manages to regain the 14.20 riyal level, it could regain upward momentum and present opportunities for recovery. In 2026, the stock showed a strong corrective start before declining due to weakening buying momentum, with the likelihood of remaining under pressure until it proves its ability to break through key resistance levels.
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