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Al-Arabi's stock tests key resistance amid strong buying
Al Rajhi Bank's stock continued its positive performance after successfully breaking through the short-term downtrend line, indicating an improvement in buying momentum and the potential for the upward trend to persist. The stock closed the latest session at 21.71 SAR, with initial resistance levels expected between 22.23 and 22.60 SAR. If the momentum continues, it may advance toward 22.83 – 23.12 SAR. Successfully breaking through the current resistance levels would strengthen the positive outlook, supported by signs of gradual improvement since March and aided by renewed demand after previously failing to stay above the 22.57 SAR level.
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