Current price: 211.20
Key point: 207.51
Our preferred direction: buying positions at the highest level of 207.51 riyals, targeting levels of 227.00 riyals, followed by 232.00 riyals.
Alternative scenario: stop loss and change direction by breaking the level of 203.00 riyals, targeting levels of 187.00 riyals.
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The stock breached the important resistance level of SAR 207.51, therefore we recommend opening long positions to target the next resistance level of SAR 227.00, followed by SAR 232.00. This scenario favors positive signs on both the RSI and Ichomoku indicators. In the event of a decline below the important support level of 203.00 riyals, the previous analysis is canceled and the first support in this case becomes 187.00 riyals.
