Key point: 45.20
Our preferred direction: short positions below the level of 45.20 riyals, targeting levels 42.00, followed by 38.00 riyals.
Alternative scenario: stop loss and change direction by breaching the level of SR46.00, targeting levels of SR50.00.
Comment
The stock broke the main support level 45.20, in addition to the signal that the negative moving averages are about to cross, so we recommend opening short positions to target the next support level 42.00 riyals, followed by 38.00 riyals. In the event of a rise above 46.00, the previous vision will be canceled and the first target for the stock in this case will be 50.00.
