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Shaker's share poised for rebound
Al Hassan Gazi Ibrahim Shaker Company's stock is heading towards the possibility of a technical rebound after deteriorating throughout the year. Technical indicators are showing signs of a reversal in selling pressure, despite its continued price decline from 19.45 Riyals to 13.35 Riyals. The stock is approaching a key resistance level at 13.37 Riyals, and if it manages to settle above it, it could aim for targets up to 14.63 Riyals. However, failing to maintain the 12.78 Riyal level may lead to a decline toward 12.20 Riyals. Currently, the stock is seeking to regain balance after a downward wave that has persisted since the beginning of the year, amid a noticeable drop in demand and weak indicators that support a change in trend.
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