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Bahri maintains support amid correction
The stock of the Saudi National Shipping Company "Bahri" is holding above a key support level amid a corrective movement within an upward trend. After reaching its highest annual peak at 36.88 SAR in late September, the stock entered a correction wave but maintained trading above the important pivot point of 35.50 SAR, despite decreasing trading volumes, with buying momentum continuing. Technical expectations indicate the possibility of the stock reaching 36.40 SAR as the first target, and if surpassed, it is anticipated to hit new record highs at 37.35 SAR. However, there is also a potential for the stock to retreat to lower levels if selling pressure increases, especially if it drops below 33.95 SAR.
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