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Lajam for Sports tests key resistance
Lajem Sports Company's stock attempted to test a key technical resistance level amid increasing buying momentum, despite its continued downward trend since the beginning of the year. The stock is currently trading around 78.70 riyals, which is a critical support and resistance zone. A close above this level could potentially lead to an upward move toward the range of 80.45 to 82.55 riyals, with a major resistance at 84.10 riyals. Despite recent movements and improved trading volumes, the stock's ability to sustain its gains depends on holding the support level at 76.30 riyals. If it fails to do so, it might experience further decline, especially with a significant resistance at 91.40 riyals that would be necessary to shift the overall trend from bearish to bullish.
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