Current price: 18.76
Key point: 18.76
Our preferred direction: long positions at the highest level of 18.76 riyals, targeting the levels of 20.00 riyals, followed by 22.00 riyals.
Alternative scenario: stop loss and change direction by breaking the level of 17.90 riyals, targeting 16.23 riyals.
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The stock is testing the important resistance point, which is represented by the stock's vwap at the level of 18.76 riyals, and therefore we recommend opening purchase deals in the event of a rise above this point to target the next resistance level of 20.00 riyals, followed by 22.00 riyals. In the event of a decline below the level of 17.90 riyals, the previous analysis is canceled and the first support in this case becomes 16.23 riyals.
