tasi, approaching a strong resistance levelWill he penetrate or turn back? ... I await your opinions
((Everything I write is a point of view that accepts right and wrong and is not considered buying or selling advice...just for discussion)).
TASI trade ideas
TasiTADAWUL:TASI
Draw a prediction chart for the Saudi stock market index until May 29th, and predict the market movement on an hourly time frame."
TADAWUL Support/ResistanceTadawul bounced back after touching S3 level and currently trading in range.
TASITADAWUL:TASI
Draw a prediction chart for the Saudi stock market index until April 27th, and predict the market movement on an hourly time frame."
TASI targets as you can see the large pattern over a long period since 2006 is in an uptrend direction and the 1st target between
11465-11939. if it can't break this and closes above it will go back again to 9930 otherwise all indicators and pattern says the long target will be between 17000-19000 over 2 years on December 2024-2025
this is just the opinion of the writer and it is not advisable to sell or buy
TASI how to trade the downtrend in TadawulSaudi stock market, also known as Tadawul, is the largest in the Middle East, and it has been in spotlight due to various economic reforms aimed at diversifying the country's economy and reducing its reliance on oil exports. The government's Vision 2030 plan includes initiatives to attract foreign investment, develop non-oil sectors, and privatize state-owned companies, which could contribute to the growth of the stock market.
Technical analysis:
- TASI has enjoyed a bull run to reach highs of 14,000 in May-22 from the Covid lows of 5,600 in Mar-20
- It is in downtrend since last 10 months and next support level is pre-Covid peak of May-19 at 9,386
- On daily timeframe, 200 DMA support is broken and price is headed downwards
- Volume is below average
- Negative directional movement
Strategy:
Price is trading in descending channel. Below strategies can be useful:
- Sell the top of channel
- Buy at the bottom of channel
- Buy if the price breakouts above the channel
Recommendation: SELL
TASI index very close to 200 DMASaudi Tadawul All Shares Index is in a downtrend about to touch 200 DMA
We will watch for a bounce at weekly 200 DMA
Long Term TASI OverviewTasi is currently retracting to the flip zone that it broke through during the COVID phase. With the bullish hidden divergence between A and C lows, the Saudi market is getting ready for a huge run towards the 30k levels to complete this Crab Harmonic pattern.
My expectation of TASI , Saudi Index TASI, targeting 9468 next couple of weeks if the MA 90 not passed up today. But the close still above RSI in the chart.
TADAWUL ALL SHARES INDEXHello ladies and gentlemen, I think the time has come to buy.
TASI to 13800 SAR.
if you have any questions do not hesitate to contact me.
Tasi It's still an uptrend Tasi
It's still an uptrend
I expect the success of the bottom test and the completion of the path
Tasi's Scenario Tasi has been going bearish since it broke a very important neckline of a Top H&Ss. However, it is now moving a round a down slanted trend line that could be a robust support . As seen in the chart, Tasi has respected the support please see the highlighted dots. hopefully, Tasi will be back bullish but make sure 10470, an important level, not to be broken down, otherwise it is bearish.
Tasi hello Traders
The general trend of Tasi index is bearish, and I think it will continue until the end of the year (and during that downward journey, there will be speculative retracement waves.
Tasi heading to down so remember to Buy good balance sheets. Sell bad balance sheets.
thanks
TASI (Macro View)TASI on monthly/weekly time frame shows a huge potential
Ranging in Triangle with Breakout in Early 2021, price is about to retest for further upward movement
Confluencing with fundamental potentials of Vision 2030.
Government focus on Vision 2030 generates a wide range of economic reforms, creating new business opportunities, driving economic growth and diversification.
Private investment plays an essential role in realizing Vision 2030. Saudi Arabia aims to achieve
40% to 65% increase in private sector contribution to GDP
0.7% to 5.7% increase in FDI’s contribution to GDP by 2030
TASI Tadawul All Shares IndexTASI is beautifully following Falling Wedge Pattern.
Bearish Until End of Nov
Short Bullish retracement within Falling wedge is expected by End of November Until top of falling wedge (in further 4 weeks).
Trade individual stocks with proper stop loss
Expected Bearish until Watchout level at strong support
How Saudi Stock Market Sectors Performed During 2022?The chart illustrates how the Saudi stock market performed by sector in 2022, according to several indices of TADAWUL exchange:
• TASI: All Share Index (-7.53%)
• TBNI: Banks (-6.60%)
• TMTI: Materials (-14.34%)
• TTSI: Telecommunication (-11.57%)
• TENI: Energy (-1.02%)
• TISI: Insurance (-11.58%)
• TSSI: Software & Services (+21.63%)
• TRMI: Real Estate Mgmt & Dev't (-22.18%)
• TFBI: Food & Beverages (-3.75%)
• THEI: Health Care Equipment & Svc (+24.34%)
The percentage on the right represents the year-to-date performance.
TASI: Short due to uncertainty and liquidityWith the recent cash grab of Al Rajhi Bank Sukuk completed the issuance of SR10 billion ($2.6 billion) Tier 1 SR-denominated sukuk, with coverage of over 300%. Saudi Arabia’s main index TASI is suffering liquidity in the market.
TADAWUL:TASI
DATE VALUE TRADED (SAR)
2022/12/15 6,702,114,194.93
2022/12/14 5,198,452,452.29
2022/12/13 5,641,471,939.41
2022/12/12 5,944,166,488.26
2022/12/11 3,054,604,600.67
2022/12/08 4,207,197,978.96
2022/12/07 3,681,126,174.09
2022/12/06 4,967,970,943.47
2022/12/05 4,146,969,817.51
2022/12/04 2,909,780,131.80
TASI which is heavily weighted by the Banking and Petrochemicals;
$2222 is currently below its IPO price of 32 – Lately facing pressure of uncertainty of Oil Prices and demand.
$7010 With the recent buybacks it appears that the company is signalling a slight uptrend in the telecommunication sector.
$2010 The company’s recent financials have been hit with net profits margin sank to 3.92% compared to its previous quarter of 14.1%. Additionally, SABIC’s profits deteriorated over 67 percent from SR5.6 billion in the same quarter a year earlier, recording a bigger fall than analysts had earlier estimated, despite a revenue jump of 7 percent to SR47 billion.
$1120 $1180 Both SNB and Al Rajhi are showing robust fundamentals due to the recent macroeconomics although if a recession were to happen in the upcoming months loan demand declines and investors seek safety.
References: Aljazira Capital, Argaam
tasi road map 2030 road map to tasi the 5th leg will target the the hisorical high a good opportunity to long
TASI dumping to 8k rangeOur loving but always dropping TASI will continue down to 8400-8800 for several reasons.
1- The macro market. (Mainly)
2- It's broken down a major and well-defined trendline since 2008 and shows signs of rejection. Bears are in control at this point in time.
3- All major long term fib lines align at this point.
4- An order block (weekly) that followed the recovery of the market after the COVID crash was formed but was never retested as of yet.
Should the macro market continue to deteriorate, there is a major trendline at the 7000 range to hold us up. Breaking any further than than, let's say to the 5600-6000 range, is a fire sale 🔥 🔥
Well that's most of the bad news. There will be good trading days that will follow. Just stay focused on growing your capital legends. So when the bottom of the market truly arrives, we will have the power to invest for the long term. Take care.
TASI next 2 weeks This scenario is expected in the next 2 weeks BUT most markets are down which might put some pressure on TASI.
TASI The market opens green, we will see the market recover a bit, then we will see new levels, see the chart
