TASIThe Saudi Stock Exchange has not gone up a real rise since the bottom of 2008, and throughout this period it is moving horizontally and faced a drainage area 4 times and could not break it, and it must return again to the demand area to collect and rise strongly and make a new peak equivalent to the rise that took place from the period 2000 to the period 2006
Please clarify that I am helping you with my point of view, which may be right or wrong, and see my previous analyzes of many currencies and forex in order to judge the owner of this analysis with a more accurate look
Good luck
TASI
2080: Resistance Breakout (Potential Setup)Breakout of trendline is observed
Price respected a very strong trendline support
Horizontal resistance zone will be converted to support zone after breakout
Aggressive and Conservative Entry points are identified with SL
Trail SL further.
Do proper risk management.
🔴 TASI 🔴NO LIQUDITY SWEAP NO ENTRY.
STRUCTURE IS CHANGING ANYTIME.
EVERY CANDLE HAS LIQUIDITY.
PRICE ALWAYS NEED LIQUIDITY.
Nobody Knows Where is Price Going.
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SMART MONEY CONCEPT.
identify Liquidity Or Become Liquidity
DISCLAIMER- This is not financial advice.
Mahara HR correction to buying areaMahara seem was in a corrective pattern since IPO and looks to be forming the first 5 five impulse. I expect it to make one more up wave or decline from current prices to where it would correct lower to present a buying opportunity as indicated in the red box. Targets are the resistance lines above.
Alinma Bank buying opportunity after correctionAfter an impulsive move upwards, I expect a correction and the another impulsive moveto take out the previous high out.
Fundamentally banks are going to benefit from higher interest rate as well as financing projects and individual investments in business ventures.
TASI SHORT TERM LOOKS GOODLast week, TASI hold important level at 9950 which have been a solid support for it.
As I mentioned before TASI in a minor correction (ABC) after a great rally after corona bottom. Now, almost finished the first leg (A) which formed as (W-X-Y-XX-Z)
I think that TASI will pullback up as (B) will be a quick (ABC) targeting at least 11400 to 11800.
31May is an important date for TASI
(this is not a financial advice)
ALRAJHI BANK 1120 still in downtrend!1year of correction still going strong..
we might see a pullback to 87 at most than heading to 61.8 which is act as a support.
the main support entry which I recommend to wait for 49-55 levels..
Now, I see a little swing trade with a maximum STOPLOSS at 66 and targeting 80 levels.
if there is a weekly close under 69.1 we might see 61.8 shortly be careful!
TASI to make slight correction and then uptrendTASI
Saudi Tadawul Index
On the daily chart, having a resistance level as technical indicator RSI is being overbought, and applying Fibonacci retracement, the index is likely to correct either 23% (11550) or 38% (11460), then rebound.
The next up wave will be begin after crossing up 11750, to target 12100
Note: The weekly and monthly charts are showing positive up potential.