Current price: 104.00
Key point: 100.00
Our preferred direction: buying positions above the level of 100.00 riyals with targeting levels of 110.00 riyals, followed by 116.00 riyals.
Alternative scenario: stop loss and change direction by breaking the level of 96.00 riyals, targeting the levels of 91.00 riyals.
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The stock breached the main resistance level of SAR 100.00, therefore we recommend opening long positions to target the next resistance level of SAR 110.00, followed by SAR 116.00. This scenario supports the buy signal on the RSI. In the event of a decrease below 96.00 riyals, the previous analysis is canceled and the first support in this case becomes the level of 91.00 riyals.
