Current price: 41.30
Key point: 40.58
Our preferred direction: buying positions at the highest level of 40.58 riyals, targeting levels of 44.00 riyals, followed by 48.00 riyals.
Alternative scenario: stop loss and change direction by breaking 40.00 riyals, targeting 37.00 riyals.
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The stock breached the important resistance level 40.58 riyals, therefore we recommend opening buy deals to target the next resistance level 44.00 riyals, followed by 48.00 riyals. In the event of a decline below the important support level of 40.00 riyals, the previous analysis is canceled and the first support in this case becomes the level of 37.00 riyals.
