Key point: 21.98
Our preferred direction: long positions at the highest level of 21.98 riyals, targeting levels of 23.10, followed by 26.00 riyals.
Alternative scenario: stop loss and change direction by breaking the level of SR20.00, targeting levels of SR18.35.
Comment
The stock of the Saudi Real Estate Company is moving with code number 4020 above an ascending trend line that started in April 2021, and rebounding from the important support level of 21.98 riyals. Therefore, we recommend opening long positions to target the next resistance level of 23.10 riyals, followed by 26.00 riyals. In the event of a decrease below the level of 20.00 riyals, a stop loss is required, and the first target for the stock becomes 18.35 riyals.
