Current price: 58.40
Key point: 56.00
Our preferred direction: buying positions at the highest level of 56.00 riyals, targeting levels of 64.00 riyals, followed by 68.00 riyals.
Alternative scenario: stop loss and change direction by breaking 52.00 riyals, targeting 44.00 riyals.
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The stock breached the important resistance level 56.00 riyals, therefore we recommend opening buy deals to target the next resistance level 64.00 riyals, followed by 68.00 riyals. In the event of a decline below the important support level of 52.00 riyals, the previous analysis is canceled and the first support in this case becomes the level of 44.00 riyals.
