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Eastern Development Shares Test Support Levels
The share of Al Sharqiya Development shows a precise price movement focused on testing important support levels after sharp declines in September, amid hopes of a possible rebound if it maintains trading above the 12.90 Riyal level. The stock exhibits technical indicators that support the likelihood of resuming the upward trend, especially if it remains above 13.50 Riyal, where the rise could extend towards 14.15-14.39 Riyal, reaching up to 14.85 Riyal. Despite the declines, staying above the key support remains crucial to continue the prospects of a positive correction, although strong resistance exists around 16.75-17.17 Riyal, which needs to be突破 (broken through) to strengthen the upward trend.
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