Current price: 83.10
Key point: 83.23
Our preferred direction: long positions at the highest level of 83.23 riyals, targeting the levels of 100.00 riyals, followed by 110.00 riyals.
Alternative scenario: stop loss and change direction by breaking the level of 80.85 riyals, targeting the levels of 74.55 riyals.
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The stock is testing the main resistance level of SAR 83.23, in case this level is breached to the upside, we recommend opening long positions to target the next resistance level of SAR 100.00, followed by SAR 110.00. In the event of a decline below the important support level of 80.85 riyals, the previous analysis is canceled and the first support in this case becomes 74.55 riyals.
