Key point: 16.12
Our preferred direction: long positions at the highest level of 16.12 riyals, targeting levels of 24.70 riyals, followed by 27.90 riyals.
Alternative scenario: stop loss and change direction by breaking the level of 15.22 riyals, targeting the levels of 11.00 riyals.
Comment
The stock is rebounding from the main support level of 16.12 riyals, and therefore we recommend opening buying deals to target the next resistance level of 24.70 riyals, followed by the level of 27.90. In the event of a decline below the important support level of 15.22 riyals, the previous analysis will be canceled and the first bearish target for the stock will be at 11.00 riyals.
