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Autumn share rebounds after support
The share of Al Khuraif Water and Energy Technology shows signs of a technical rebound after reaching support at the lower boundary of a falling channel. This comes after a sharp decline that began last September. The stock lost a key support level at 108.50 SAR and dropped to around 86.45 SAR, amid continued selling pressure and increasing trading volumes. Currently, there is an attempt to rebound above the 85.10 SAR level, provided trading volumes improve. However, the possibility of further decline remains if the stock fails to hold above the support at 82.95 SAR. Stabilizing above support levels along with increased trading activity could enhance the chances of a recovery toward resistance levels between 87.20 and 91.25 SAR.
Notice: This Is an AI-Generated Summary
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