TASI trade ideas
TASI: Prepare for your new years
Since 2006, TASI had 3 bear market periods and 2 pull markets ( and currently in the 3rd. )
Each period had lasted (1/2 the time of the previous similar period either bear or pull)
The maximum period was 5 years and the shortest is 10 weeks from today
The closing above 9400 in 8-10 weeks is very positive for targets at 12000 and 15000 points.
Investment wise, the Saudi Tadawul market is net long over the short and medium term or until major event happens.
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Tadawul All Share Index - Weekly - Saudi Stock Market IndexTadawul All Share Weekly Index - SAUDI ARABIA
11th April, 2021
As shown the Index is in multi year
correction from historical all time
high around 20000 mark.
Possible wave count suggests
one more leg down to as low as
6000 area may seen. The forthcoming
down move may coincide with
lower oil price and lower US,
Europe and other world stock markets.
Sustain trading above 11000 negates the downtrend scenario.
TASITarget 9900
Breakout 9900 the target 11160
Stop-loss breakout the up trendline and close under the 9400
Tasi is near the upper ATR linein the chart you will realize the risk of investing in coming couple of weeks.
if the price crossed the upper line for three weeks, TASI will continue to score new record.
TASI might hit 9000 After a Slight CorrectionTADAWUL:TASI could continue rising and reach 9000+ in few weeks after slight correction which is @ 7865.
TASI move to 10000After break of 9127 we will go to 9220 for sure. Hamor will start to buy after break of 9227 which will open our positions to 9600. Many bad analysts that work for hawamer they spread rumour of TASI to go 7000 again. But dont believe them follow my chart and you will see that after break of 9600 move to 10000 will be open for sure.
TASI - Saudi Tasi needs to stay above uptrend support @ 8640 . If it breaks and confirms break down below could turn to downtrend.
