Current price: 237.80
Key point: 220.00
Our preferred direction: buying positions above the level of 220.00 riyals, targeting levels of 260.00 riyals, followed by 280.00 riyals.
Alternative scenario: stop loss and change direction by breaking the level of 219.00 riyals, targeting the levels of 200.00 riyals.
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The stock breached the symmetrical continuation triangle pattern around the important resistance level of SAR 220.00, and therefore we recommend opening buying deals to target the next resistance level of SAR 260.00, followed by the level of SAR 280.00. In the event of a decline below the important support level of 219.00 riyals, the previous analysis is canceled and the first support in this case becomes 200.00 riyals.
