Current price: 32.10
Key point: 30.00
Our preferred direction: buying positions above the level of 30.00 riyals, targeting levels of 34.50 riyals, followed by 38.00 riyals.
Alternative scenario: stop loss and change direction by breaking 29.80 riyals, targeting 27.50 riyals.
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The stock is bouncing from the important support level 30.00 riyals, therefore we recommend opening buy deals to target the next resistance level 34.50 riyals, followed by 38.00 riyals. In the event of a decline below the important support level of 29.80 riyals, the previous analysis is canceled and the first support in this case becomes 27.50 riyals.
