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UCIC Tests Resistance

UCIC Tests Resistance

United Carton Industries Company (“UCIC”) shares tested resistance at SAR 25.60 after holding above their 50- and 100-period exponential moving averages, signaling an improvement in short-term price action. A break above resistance and a close above that level could pave the way toward SAR 26.15–26.58, followed by SAR 27.05–27.58, provided positive cash flows continue. SAR 24.83 remains a key support level. The improvement comes after the shares fell to a record low of SAR 22.55 in March, while the broader downtrend remains a challenge the stock has yet to fully overcome.

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