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MBC Group shares rebound after low
The MBC Group's stock is beginning to regain upward momentum after its historic decline to 10.18 riyals in September. Technical signals indicate an attempt to establish a new price base. The level of 19.48 riyals serves as an important support, while the first resistance zone lies between 19.95 and 20.19 riyals. If the stock manages to break through this resistance and stay above it with increased trading volume, it could continue rising toward 20.64 and 21.14 riyals. Conversely, if it fails to break through and trading returns below 19.48 riyals, the stock may decline towards a key support at 18.75 riyals, potentially testing previous lows if that level is broken. This positive shift reflects an effort by the stock to recover from its downward trend, which began after breaking the 27.50 riyals level and led the price to its all-time low of 10.18 riyals.
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