The Tadawul All Shares Index (TASI) concluded last week with contrasting performances across its key indices. The Index dipped 1.30%, shedding 157.02 points to settle at 11,959, continuing its rejection within the 12,158-11,869 range for the second consecutive week. Technical indicators paint a concerning picture. Couple of weekly signals now point towards...
stock market chart.
On the Day that the UK government has authorised military strikes against Yemen.
I take a quick glance at the Saudi stock and see a #HVF in progress.
Saudia Arabia as version of the #UAE, as it reinvents itself
is the investment thesis,
if your morals allow.
We can get upset about geopolitics
But the war machines are powerful and keep...
Regarding the analysis of the Saudi TASI index, we observe the activation of the Bat harmonic pattern targeting 13500, and it is expected to evolve later in the long term to form the Crab pattern at 16420.
Good Luck.
Weekly chart, the Saudi TASI index has formed a chart pattern W and V, then the target is 13930
Expected time frame 3rd Q 2024
Technical indicator MACD is positive; RSI is near over-bought zone.
For the long term, monthly chart, there is a probable target at 18100
Good Luck for the Saudi Market :)
The Tadawul All Shares Index (TASI) closed the latest weekly session at 11,225.35 , marking a positive gain of 47.87 points (0.43%) . Currently, the index is testing desending trend line. The index shows low activity with a small candle body which indicated rejection can be seen in upcoming sessions. A bearish pattern is evident until the 10,400 support sustains....
Show some weak signs:
1- Break VAWAP
2- Bearish Divergence
back to retest 200 Ma or deep correction to 10504
target will be:
TP1: 11159
TP2: Daily 200MA
The Tadawul All Shares Index (TASI) concluded its most recent trading session at 11,137, reflecting a positive gain of 55 points. Notably, the index has surpassed its previous resistance level of 10,987, which has now transitioned into a crucial support level. The subsequent resistance level is anticipated to manifest around 11,189 which the market almost tested...
The Tadawul All Shares Index (TASI) concluded its most recent trading session at 11,082, reflecting a positive gain of 59 points. Notably, the index has surpassed its previous resistance level of 10,987, which has now transitioned into a crucial support level. The subsequent resistance level is anticipated to manifest around 11,198. Current market patterns imply a...
The main stock market index in Saudi Arabia (TASI) increased 604 points or 5.76% since the beginning of 2023, according to trading on a contract for difference (CFD) that tracks this benchmark index from Saudi Arabia.
TASI has been in correction for a while
A trendline breakout is observed recently (with Formation of HH) which gave a short positive upside movement.
Formation of HL in progress
11,000 is a significant resistance line
Bulls need to break the resistance line for upside movement.
Watch for individual stocks for proper entry
TASI
ALsalam 3alikom, I hope you are fine!
Study the TASI graph, which depicts Daily for short time. When initially looking at the chart, you should be able to immediately identify broad details, minor details and minute details.
The minor details in this chart are also quite easy to identify, which is lines respect All level of Fibonacci extension. The minute...
tasi up. correction finished. new target is 12000.
The impact is not only felt on the Tadawul All Share Index but also on the broader MSCI GCC Countries Combined Index, which has declined by 6% in 2023. Saudi banks, which make up 36% of the Tadawul, are grappling with these high interest rates. The increased rates are affecting credit demand and driving up the...
The Saudi Arabian Tadawul All Market index moved up in an impulsive wave 1 in march 2023.
The index has however seen sharp correction from July 2023 till date.
after having retraced almost 70% from the wave 1 high the index is now look to scale up slowly eventually into wave 3 towards 12-12.5K mark.
1st H&S played out nicely.
2nd H&S did too.
I believe more pain to come.. Equal lows below, liquidity to be grabbed + an open gap (purple box).
let those play out then i'll consider longing
The Tadawul All Shares Index, or TASI, is currently trading around 10,408. The current pattern suggests that the index is in a down trend, making lower lows and lower highs, notable support is around 9,950. If selling pressure minimize and sustains the support level, pull back is expected.
Tasi is at a potential bounce area, this is a zone of multiple support clusters
Even if the downtrend will continue, a reaction to the up side from here is highly expected
