"Amak" shares approach key levels

The share of Al-Masaneem Al-Kubra for Mining (AMAK) faces technical challenges and is attempting to forecast above key support levels amid signs of an effort to break through the descending channel that has been forming since February 2026. The stock managed to stabilize above a major support level at 68 SAR, which helped improve its technical performance and attempt to breach the 0.618% Fibonacci level at 74.50 SAR—an important level for confirming a trend reversal. If the stock closes above this level with increased trading volume, it could target upward gains between 76.15 and 77.55 SAR, with potential extensions to resistance zones between 78.85 and 82.45 SAR. However, the technical report warns that weakness persists in breaking the 200-day moving average, and a decline below 70.65 SAR is seen as a negative signal that may lead to further declines. Historical perspectives reveal sharp fluctuations, with peaks reaching up to 117.50 SAR in January 2026 and significant declines in February and May.

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