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Al Othaim Shares Face Support Tests
The movement of the Abdullah Al Othaim Markets Company’s stock indicates the continuation of the main downward trend. The stock has been under strong selling pressure and has been declining since February. Meanwhile, the Relative Strength Index (RSI) has entered a positive divergence despite the ongoing decline, which enhances the possibility of a bullish reversal if technical support factors and increased trading volume are present. The stock faces a key resistance level at 4.20 SAR, which must be broken to target higher levels between 4.30 and 4.50 SAR. Conversely, the current support levels at 4.07 and 4.00 SAR suggest that the decline may continue if these levels are broken.
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