The Tadawul All Shares Index (TASI) concluded the previous week with notable performances across its key indices, experiencing a loss of 1.60%. This resulted in an accumulation of 203 points, settling the index at 12,502. Notably, the index has shown rejection from 12,883 which will acts as resistance for the upcoming session for the index. If this resistance...
Immediate Support lies around 12200 - 12380
However, Bearish Divergence on Daily TF
To Continue its Bullish Trend, 13100 should
be Crossed & Sustained
13400 & 13900 are next level Resistances
Remember, there is No Harm in Index as long
as it is Trading Above 11800
If this level is broken, Trend Reversal is Possible
The TASI index is trading at high levels and is gradually approaching its historical peak.
The possibility of seeing a decrease in the price on the monthly frame exists, but it is not confirmed yet.
The daily frame indicates a close visit to the white lines, but the orange levels are also imp
ortant and must be visited. TADAWUL:TASI
TASI form H&SH Pattern , and close at Nick line
But there is cluster of support in current area , so there is potential to Pattern Fail
and Market continue up trend ,
first need to close above and breakout the descending Trend line (mention in chart)
then get higher than Right Shoulder @ 12800
in case of confirm close under 12850 it will activate pattern...
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The Saudi Arabian stock market, represented by the Tadawul All Share Index (TASI), has recently demonstrated a compelling show of resilience and strength. After a concerning false breakdown, the index has rallied from the bottom of the upper trend channel, sparking intrigue and enthusiasm among market observers.
The intricacies of this rebound cannot be...
Subject to close above 12700, the next target will be as follow:
the first target for standard pattern ( BAT) @ 13500
The second target for non standard pattern ( Anti Shark) @ 14400
Good luck for all,
“TASI’s daily chart presents a bullish signal with an inverted Head and Shoulders pattern forming. A successful break above the neckline could initiate a climb towards our primary target at 13036, followed by a secondary target at 14082.
📈 TASI Share Technical Analysis 📉
🐂 Bullish Momentum:
The Tadawul All Share Index (TASI) is currently displaying signs of a potential bull run on the daily timeframe. The market sentiment appears to be favoring the bulls as the price action demonstrates a series of higher highs and higher lows, suggesting a sustained uptrend. 📈🐂
📊 Moving Averages:
Two important...
The Tadawul All Shares Index (TASI) concluded last week with dull performances across its key indices. The Index loosed 0.03%, accumulate -3.47 points to settle at 12,630.86, the index is currently testing its resistance level with double top formation on weekly time frame. Technical indicators paint a concerning picture. Couple of weekly signals now point towards...
Tadawul All Share Index (TADAWUL:TASI)
1) In the day chart we noticed that the Tadawul All Share Index has formed a head and shoulder pattern from April 2023 - September 2023 and a obvious neckline breakout marks the end of the H&S pattern.
2) At the end of H&S pattern we noticed a big red candle closed at 50% into the body of the previous green candle....
This looks like a double top on TASI. I guess the support levels to watch out for ar 11850 - 11730.
If it bounces from there, the market could look for previous highs. if it breaks below we may go lower to test 11600.
