Avalon Pharma shares hold steady

The article reviews the performance of Al-Ahlam Middle East Pharmaceuticals Company ("Afalon Pharma") stock, which has been trading within a sideways range since April 2026. The balance between supply and demand continues, with investors awaiting a breakthrough of key technical levels. Technical analysis indicates that the stock is trading between a major support at 56.65 SAR and resistance at 64.40 SAR. Indicators show a gradual improvement in momentum, with the formation of rising lows accompanied by increasing trading volumes, potentially paving the way for an upward move if it surpasses the resistance target at 64.40 SAR. If positive performance persists, breaking the target level could open the door to higher ranges, reaching 65.85 SAR and 67.60 SAR. The level of 67.60 SAR is crucial in the medium term to confirm the strength of the corrective shift towards an upward trend. Conversely, if the breakout fails, the sideways scenario remains valid, with 56.65 SAR serving as a support level to prevent a new wave of decline.

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