Current price: 9.84
Key point: 9.35
Our preferred direction: buying positions above the level of 9.35 riyals, with targeting levels of 12.00 riyals, followed by 14.00 riyals.
Alternative scenario: stop loss and change direction by breaking 9.15 riyals, targeting 8.00 riyals.
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The stock breached the important resistance level 9.35 riyals, therefore we recommend opening buy deals to target the next resistance level 12.00 riyals followed by 14.00 riyals. This scenario is supported by the positive signs on the MACD histogram and the RSI. In the event of a decline below the important support level of 9.15 riyals, the previous analysis is canceled and the first support in this case becomes 8.00 riyals.
