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Maaden stock surpasses 200-day moving average
The Saudi Arabian Mining Company (Ma'aden) stock shows positive technical signals after rising to 62.50 SAR, supported by a breakout above key moving averages and confirmed by the MACD indicator indicating strong momentum. The stock is expected to first target the 64.15 SAR level, then 65.85 SAR and 68.80 SAR as long as the flow of liquidity continues. Conversely, breaking below the 59.80 SAR level could lead to decreased chances of a rebound. After declining from a peak of 79.90 SAR to a trough of 55 SAR, recent movements suggest a possible recovery, provided that support levels and moving averages hold firm.
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