Current price: 35.50
Key point: 33.75
Our preferred direction: buying positions at the highest level of 33.75 riyals, targeting levels of 38.00 riyals, followed by 40.00 riyals.
Alternative scenario: stop loss and change direction by breaking the level of 33.50 riyals, targeting the levels of 30.00 riyals.
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The stock breached the main resistance level of SAR 33.75, and therefore we recommend opening long positions to target the next resistance level of SAR 38.00, followed by SAR 40.00. In the event of a decline below the level of 33.50 riyals, the previous analysis is canceled and the first support in this case becomes 30.00 riyals.
