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Sword Gallery shares rise on higher volumes
The share of Saif Stores Development and Investment Company (Al Saiyf Gallery) shows positive technical indicators supported by increased trading volumes, amid an attempt to break out of a downward trend that has been prevailing since late May. The stock is currently trading above support levels and moving averages, with a positive crossover between the 9-day and 21-day moving averages, suggesting potential buying momentum. Target levels include surpassing resistance at 6.35 SAR up to 6.50 SAR, with the importance of maintaining support at 6.00 SAR; failure to do so could see the price return to lower levels. Despite the short-term positive movements, the overall downtrend remains intact, but breaking resistance levels with strong trading volumes could enhance the prospects of a reversal to an upward trend.
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