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Mobily shares face resistance amid bullish signals
The stock of United Arab Telecommunications "Mobily" has exhibited a positive technical performance, successfully surpassing an important secondary resistance level around 62.90 SAR. The buying momentum continues, supported by relative strength indicators and trend signals that point to the strength of the upward trend, along with increasing trading volumes since the beginning of the year. Staying above this level is a key factor in supporting the targeting of new price levels, ranging between 68.00 and 72.00 SAR, with the potential to reach a further target at 74.10 SAR if buying pressures persist. Regarding technical indicators, the RSI suggests bullish momentum, and the ADX supports the hypothesis of a strong upward trend, especially with +DI crossing above -DI and the ADX remaining above 25. This all reinforces expectations for the continuation of the stock's positive movement.
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