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Sasco's share stabilizes above resistance for rebound
Saudi Arabian Services Company (Sasco) shares are currently experiencing a period of technical caution after attempts to strengthen their stability above key resistance levels. The stock is aiming to confirm its steadiness above the 41.90 riyal level, which is considered a major resistance point, in order to improve the technical outlook and move toward higher levels between 44.28 riyals and 48.03 riyals, provided that this is accompanied by increased trading volumes. On the other hand, continued consolidation above the 42.72 riyal support level enhances the prospects for an upward move, while breaking below it could open the door for a reversal to the downside. Over the past few months, the stock has experienced a decline after testing higher levels, and it currently lacks strong buying momentum to sustain further gains, with risks of maintaining a downtrend in the medium term.
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