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Cation's Share Tests Resistance Levels
Catrion Catering Company's stock is experiencing short-term attempts at recovery, showing signs of an upward movement after stabilizing above 66.50 riyals, amid resistance at 70.75 riyals. The stock faces challenges due to the ongoing downward trend in the short and medium term, but breaking through the resistance at 70.75 riyals and closing two consecutive candles without a reverse pattern could open the way for a correction wave reaching 73.15 riyals. Meanwhile, the level of 68.80 riyals remains a key support. Despite signs of improved performance during May and June, the technical outlook still leans bearish, with the stock trading below the main resistance level of 83.15 riyals.
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