Technical analysis of the SERA stock, with the expected target for the stock


Before us is a chart of Seera shares from the Saudi market with a time interval of 4 hours, as we notice on the attached chart that the stock has headed upwards after the stock rebounded from the support formed at the support areas of 12.12 riyals, as the stock tended to rise again until the stock reached areas The resistance is 15.78 riyals, then the stock tended to retreat to near the support levels 13.16 riyals, then the stock returned to rise again until it recorded its highest peak during this upward trend at 24.28 riyals, then the stock retreated to the areas of 17.20 riyals, from which the stock rebounded again to the areas of 22.60 Then the stock retreated to the support areas of 14.90 riyals, from which the stock rebounded, settling at 21 riyals, as the stock retreated again to settle at 16.42 riyals, from which the stock rebounded to settle now at 20.92 riyals, from which the stock retreated towards the areas of 19.92 riyals.
The price movement of Seera’s share declined after the share approached testing the previous resistance areas, while we expect, with the continuation of negative pressure, that the correction of Seera’s share will continue, heading towards areas of 18.65 riyals.
As for the technical indicators, we notice a negative appearance on the relative strength index movements, which we expect to support the suggested negative outlook.
The stock is negative, breaking the support 19.15 riyals.
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