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Al-Ardh Al-Mutqan shares stabilize after historic lows
The share of Al-‘Ardh Al-Mutqan Commercial Services Company "Toby" experienced a technical corrective move after a sharp decline that led it to reach a historic low of approximately 5.95 Riyals, accompanied by a noticeable increase in trading volumes. The rebound resulted from an increase in buying pressure, aiming to establish a solid price base and halt the decline that has been ongoing since last year. To confirm the continuation of the correction, a breakthrough above a key resistance level at 6.78 Riyals is required, with an expected rise toward 6.92 and 7.12 Riyals. Meanwhile, the support level between 6.41 and 6.46 Riyals acts as a strong safeguard to prevent further decline.
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