Lubreaf seeks to reverse decline

Shares of Saudi Aramco's Basic Oils (Lubref) have made serious attempts to break out of the downward channel they were trading in, supported by the appearance of a strong positive candle that helped it regain its position above the 200-day simple moving average. This is an important technical indicator that fosters confidence in the sustainability of the upward trend over the long term. The current share price is approximately 127.80 SAR, with expectations of targeting levels between 131.50 and 140.00 SAR if support and the bullish momentum continue. However, technical analysis emphasizes the need to confirm increased trading volume to ensure the validity of the breakout and avoid false moves, with a stop-loss set at 122.50 SAR for protection. There is also strong support between 117 and 120 SAR. Since the beginning of 2026, the stock has risen from a low of 79.90 SAR to a high of 138.50 SAR, reflecting steady price growth. If the stock maintains its current levels, it could continue to generate future gains. It is worth noting that the current phase represents a balanced correction before resuming the long-term trend.

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