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Red Sea resistance test

Red Sea resistance test

Red Sea International’s stock is testing resistance at SAR 18.80, which coincides with the 100-day exponential moving average. Trading volume is rising and higher lows are forming, after the stock settled above its 50-day moving average on the two-hour chart. A sustained move above resistance could open the way to SAR 19.24–19.62, followed by SAR 19.97–20.39. SAR 18.05 is a key support level; a break below it could weaken the recovery outlook and bring selling pressure back.

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