Current price: 220.00
Key point: 210.00
Our preferred direction: buying positions above the level of 210.00 riyals, targeting levels of 230.00 riyals, followed by 240.00 riyals.
Alternative scenario: stop loss and change direction by breaking the level of 209.00 riyals, targeting levels of 190.0.0 riyals.
comment
The stock is rebounding from the 20-day moving average in addition to its rebound from the main support level of 210.00 riyals, and therefore we recommend opening long positions to target the next resistance level of 230.00 riyals, followed by 240.00 riyals. In the event of a decrease below the level of 209.00 riyals, the previous analysis is canceled and the first support in this case becomes the level of 190.00 riyals.
