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Al-Inma shares trend upward with new highs
Alinma Bank's stock has shown noticeable positive movements in recent trading sessions, recording price rebounds that supported its stability at important technical levels, especially at 24.65 riyals, which coincides with its 50-day exponential moving average. The stock reflects a price structure based on higher highs and higher lows, which enhances the chances of continuing the upward trend despite declining trading volumes. It is expected to target resistance levels at 25.05 riyals, and surpassing them could push the stock towards 25.40 riyals and then 26.00 riyals. The main risks involve breaking below the key support level of 23.90 riyals, which could lead to a decline towards lower levels. Historically, the stock started 2026 with a strong bullish wave, rising from the March low of 21.60 riyals, with clear dominance by buyers in price movements, suggesting the upward trend may continue as long as the support level mentioned is maintained.
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