Key point: 170.00
Our preferred direction: long positions at the highest level of 170.00 riyals, targeting levels of 180.00, followed by 190.00 riyals.
Alternative scenario: stop loss and change direction by breaking the level of 168.00 riyals, targeting the levels of 155.00 riyals.
Comment
The stock is breaching the main resistance level of SAR 170.00. Therefore, we recommend opening long positions to target the next resistance level of 180.00 riyals, followed by 190.00 riyals. In the event of a decline below the level of 168.00 riyals, a stop loss is required, and the first target of the stock in this case becomes 155.00 riyals.
