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Al-Manjam Stock Tests Moving Averages
Almanajem Food Company's share is seeking to regain its upward trend, as it is testing the 9-day moving average levels after displaying positive trading that supports it. The stock aims to reach resistance at 55.60 riyals, with the possibility of targeting higher levels between 57.00 and 59.50 riyals if it successfully stabilizes above these resistance levels. Conversely, the 52.35 riyals zone is considered a key support level that must be maintained to avoid continued selling pressure.
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