Key point: 46.80
Our preferred direction: long positions at the highest level of 46.80 riyals, targeting levels of 48.70 riyals, followed by 50.55 riyals.
Alternative scenario: stop loss and change direction by breaking the level of 46.00 dollars, targeting 45.00 riyals.
Comment
The stock breached the important resistance level of SAR 46.80, and therefore we recommend opening buying deals to target the next resistance level of SAR 48.70, followed by SAR 50.55. In the event of a decline below the level of 46.00 riyals, the previous analysis is canceled and the first targets of the stock become 45.00 riyals.
