TASIThe 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 potential further declines in the coming weeks, with the index potentially targeting a zone below the previous low of 11,869. In near term, the index is targeting the zone around 11,600 and in the medium term, the index is targeting the zone around 11,150. Stop-loss levels should be monitored closely. On the flip side, a weekly close above 12,344 would create upward momentum.
