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Al-Rajhi stock trends upward amid sideways movement
Al Rajhi Bank's stock continues to attempt a reversal from the corrective wave it began at the start of the year. It is traded within a sideways range between a key support level at 63.15 SAR and resistance at 72.00 SAR. Technical analyses indicate that surpassing the 21-day and 50-day exponential moving averages is necessary to confirm the end of the correction wave, with the potential for the stock to rise to levels of 66.70 SAR and 68.30 SAR if it manages to hold above the 65.00 SAR barrier. Conversely, maintaining the support level at 63.15 SAR remains crucial to avoid a continued corrective movement and to stabilize the stock within the sideways range it has been trading within since the beginning of the year.
Notice: This Is an AI-Generated Summary
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