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Al-Fakhariyah's share tests support levels amid low trading volume
The performance of Saudi Ceramic Pipe Manufacturing Company's stock has experienced noticeable price fluctuations, settling near important support levels after facing strong selling pressure. After successfully breaking through the resistance at 20.25 riyals, the stock retreated toward support at 16.80 riyals and entered a sideways trading range with decreased trading volumes, reflecting a state of investor caution. Technical analysis indicates that upward opportunities require holding above the 17.75 riyal level and increasing trading volumes, with an initial target of 18.00 riyals. Conversely, breaking below support at 16.92 riyals could prolong the downtrend, while the 24.50 riyals level remains a key resistance point indicating a potential future shift in the long-term trend.
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