Mubco Shares Test Support Levels

The share of Middle East Paper Industry and Production Company (MEPICO) has stabilized above the support level of 18.40 SAR after successfully breaking through the previous resistance level, accompanied by a significant increase in trading volumes. This reflects an influx of buying liquidity and the beginning of forming a strong price base. The stock is expected to face resistance at 18.52 SAR, and if surpassed, it may target levels between 18.96 and 19.82 SAR. However, risks remain if the stock declines below 17.80 SAR. The stock experienced sharp declines in the first quarter of the year before starting to rebound from a support level at 15.70 SAR. It is now on a corrective path with relatively weaker buying momentum.

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