AL-RAJHI COMPANY FOR COOPERATIVE INSURANCE (8230)

Rejection occurs after making a high of SR 77 on 5th Dec’ 2023. Currently price is sustaining above 100-day EMA and accumulation in the share with increase in volume of 1.16 million is observed (pointed on chart) on 18th Jan’ 2024 which indicates upward momentum. The stock can be considered in a range of 66-63.50 with the stop loss below 59. On the flip side, resistance lies in the range of 75-77, sustaining above can pull the price more upward.