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Metallic Share Faces Key Technical Levels
The stock of National Company for Manufacturing and Casting Metals "Mineral" is experiencing selling pressures and testing the neckline level of a reversal technical pattern, while the overall long-term trend remains bearish. Although a double bottom pattern has formed, suggesting a potential reversal, the stock is trading near key support levels. A breakthrough above 11.01 SAR could open the way for a rebound toward levels between 11.26 and 11.54 SAR, whereas breaking below 10.69 SAR may accelerate the downward momentum. The downward trend has persisted since the beginning of 2022, characterized by repeated lower highs and lows, with warnings of continued pressure in the absence of strong support.
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