At the moment these are the bullish indications of TASI: 1. Taking support at 50% fib level of the uptrend that lasted from 24th Oct 23 to 24th Mar 24 2. Making a double bottom pattern 3. Taking support at an important support/demand level Is downtrend over?
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....
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Saudi Stock Market is very bullish and in a strong uptrend 12600 is a resistance zone and i think market will break that and make a new high. Next target is 12800 for now.
There is no doubt that TASI is in a strong bull trend but we also know that market cannot just keep moving in 1 direction there is always a correction phase. Market as of now is over heated and need some healthy correction I think it will respect the support which coincides with the long term trendline. Overall surely TASI is a bullish market!! Hit like & follow guys ;)