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Sira Holding Shares Break Technical Resistance

Sira Holding Shares Break Technical Resistance

The share of Saudi Arabian Airlines Holding Group (symbol 1810) has exhibited significant technical changes. It pierced through the upper boundary of the falling wedge pattern, which had indicated a potential shift from a downward trend to an upward one. This breakout follows a period of trading tension, including a strong decline last year that broke a key support level at 25.00 SAR, bringing the price down to support levels around 20.70 SAR. Currently, the stock is trading within a resistance zone near 22.48 SAR and needs to stabilize above this level along with increased trading volumes to sustain the upward move. Technical analyses suggest the stock could aim for levels between 23.00 and 25.00 SAR. Maintaining trading above 21.67 SAR is essential to preserve a positive outlook, with signs of a market recovery after the sharp decline that occurred in October of last year.

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