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Riyadh Cables Stabilizes Above 110.80 Riyals
The Riyadh Cables Group Company’s stock is currently testing a major resistance level at 110.80 SAR after successfully breaking out of the trading range that dominated its performance during August and September. The stock is presently experiencing an upward wave supported by increased trading volumes and a rise in buying momentum, with expectations of surpassing the 110.80 SAR level and stabilizing above it to move towards 113.50 SAR and then 116.40 SAR. It could extend further into a range between 119.50 SAR and 123.40 SAR if support remains strong. Breaking through this resistance is a key condition for sustaining the upward trend, with support levels maintained between 105.50 SAR and 104.40 SAR, as a breach below these could push the stock back into sideways movement or a corrective wave. Since the beginning of 2026, the stock entered a downtrend but managed to correct its course in October after forming a higher price base above 98.10 SAR. A wave of upward movement began amid improved buying strength indicators, reflecting increased buying pressure and expectations for the continuation of the bullish trend if it can break the 110.80 SAR level and hold above a logical support zone.
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