🚀 Stock Alert: SAUDI RESEARCH & MEDIA GROUP (4210)
📈 Investment View: Technically Bullish 📈
🔍 Quick Info 🔍 📈 Entry Range: 220 🎯 Targets : 270 ⚠ Stop Loss: 200 ⏳ Nature of Trade: Long Term (Swing) 📉 Risk & Reward Ratio: 1 : 2.50
📰 Technical View: In the preceding trading week, the price movement successfully breached the significant resistance level of 220 SAR, culminating in a notable total gain of 30.2 SAR (+14.60%) and concluding at 237 SAR. Additionally, the super trend indicator has signaled a bullish momentum within the weekly time frame, further corroborated by the confirmation provided by the MACD indicator. Looking ahead, the former peak at 270 SAR now functions as a resistance barrier, potentially prompting profit-taking activities. Conversely, there exists a possibility for the price to retest the 220 SAR level, transforming it into a support level, having previously served as resistance. To mitigate risks, a prudent approach involves placing a stop loss below the breach point of 200 SAR, as a reversal in momentum may occur subsequent to this breach.