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Wafra shares near March support
Fawra Industrial Development Company's stock is facing increasing selling pressures after breaking through the key support level at 18.80 riyals, prompting a decline to 17.60 riyals amid anticipation of testing historic support levels that may determine its future trajectory. Technical analyses indicate that breaking the 17.22 riyals level could lead to further declines toward 16.47 riyals, while improving performance requires regaining trading above the 18.80 riyals level. Since the beginning of 2026, the stock started at 20 riyals and reached a peak of 23.90 riyals in January, but later experienced a sharp decline amid waning buying confidence. It is now at risk of further drops unless it reclaims strength above the current support levels.
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