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Alujain stock drops below key support
The stock of Alujain Corporation declined significantly during today's trading, as sellers managed to break the key support level at 25.00 SAR, accompanied by an increase in selling momentum and trading volume. This movement led to a weakening of the bullish momentum and confirmed a downward trend, with the stock currently trading at 24.65 SAR and facing resistance at the moving averages. Analysts expect the decline to continue, with initial targets at 24.10 SAR, then 23.40 SAR, potentially reaching 22.20 SAR if the downward trend persists. This comes after a wave of decline that began in March 2024, following a near-peak level of 30.54 SAR.
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