Key point: 58.00
Our preferred direction: long positions at the highest level of 58.00 riyals, targeting levels of 62.00 riyals, followed by 64.00 riyals.
Alternative scenario: stop loss and change direction by breaking the level of 56.00 riyals, targeting levels of 52.00 riyals.
Comment
The stock bounces from the main support level of SAR 58.00, and therefore we recommend opening long positions to target the next resistance level of SAR 62.00, followed by SAR 64.00. In the event of a decline below the level of 56.00 riyals, the previous analysis is canceled and the first support level in this case becomes 52.00 riyals.
