Key point: 22.00
Our preferred direction: long positions at the highest level of 22.00 riyals, targeting levels of 26.00 riyals, followed by 28.00 riyals.
Alternative scenario: stop loss and change direction by breaking the level of SR21.80, targeting levels of SR20.40.
Comment
The stock is rebounding from the main support level at 22.00 riyals, therefore we recommend opening long positions to target the next resistance level at 26.00 riyals, followed by 28.00 riyals. In the event of a decline below the level of 21.80 riyals, the previous analysis is canceled and the first support level in this case becomes 20.40 riyals.
