The Tadawul All Share Index (TASI), which tracks the performance of all stock listed on The Tadawul, has recorded a 30.34% increase since the beginning of 2021.
However, the TASI is sitting at a peak level, which appears to be a repetition of the previous boom and bust cycle. The TASI was in a comparable position in late 2014 and late 2007, before wiping out more...
TADAWUL:9512 is in a really interesting area right now .
In fact there is a BEARISH MARKET SENTIMENT at the moment , but the price needs to close below the red box (35.7 - 35.2 area) for a BEARISH CONFIRMATION .Actually ,If it succeeds to close below the red box (35.7 - 35.2) area ,It is very likely to continue the bearish evolution towards the 33-33.5 area .
1) Trend line broken - Perfect descending triangle bullish breakout
2) Breakout with notable Volume - Breakout confirmation
3) Minimum 2.5% can be made in the short term (a day or few days) until the price reaches the next resistance zone
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4280 (TADAWUL) - BULLISH