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Redan shares face resistance at 16.75 riyals
The shares of Rieden Food Company are testing the resistance level of 16.75 riyals after recording an upward price gap. They face a significant resistance within a range between support at 15.37 riyals and resistance at 17.67 riyals. If the price stabilizes above 16.75 riyals with increased trading volume, the stock may target the 17.15 riyals level, and it is expected to surpass the upper boundary of the range at 17.67 riyals to head toward 18.05 riyals. In the long term, the stock is moving sideways around the 200-day moving average after its decline since early 2026, with a key support level at 13 riyals.
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