Current price: 14.54
Key point: 14.40
Our preferred direction: buying positions at the highest level of 14.40 riyals, with targeting levels of 15.00 riyals, followed by 15.50 riyals.
Alternative scenario: stop loss and change direction by breaking 14.00 riyals, targeting 13.00 riyals.
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The stock breached the important resistance level 14.40 riyals, therefore we recommend opening buy deals to target the next resistance level 15.00 riyals followed by 15.50 riyals. This scenario is supported by the positive signs on the Ichomoku and the RSI. In the event of a decline below the important support level of 14.00 riyals, the previous analysis will be canceled and the first support in this case will be 13.00 riyals.
