
Congratulations to the Naranj Capital Research Analysis Team, led by experienced trader Mr. Arijit Banerjee, CMT (USA), CFTe (USA), for their remarkable accuracy once again. Within just one month, TASI (Tadawul All Share Index) experienced a significant 5% increase, aligning perfectly with our previous blog post – TASI 2023 RECAP and a GLIMPSE into 2024, published on January 23, 2024. This impressive performance demonstrates the team’s expertise and reinforces their credibility in analyzing the Saudi Arabian stock market (Tadawul). The TASI’s upward trajectory signifies promising opportunities for traders in Tadawul.
TASI - TECHNICAL ANALYSIS (WEEKLY)

In the downtrend journey, TASI has formed a Inverted Head and Shoulder pattern, which is considered as a bullish signal. After the breakout, price is making Higher Highs and Lows. This week’s candle closed above last week’s candle’s body, indicates bulls have the momentum with them.
Tasi - TECHNICAL ANALYSIS (MONTHLY)

In the monthly chart, we can see the formation of a Bullish Pole & Flag pattern with a combination of Double Bottom pattern. These two Bullish patterns define the strength of the buyers at the moment. This month’s candle is trying to close above the previous month’s. We can expect the price to reach at its immediate resistance level shortly.
CONCLUSION
Saudi Arabia’s benchmark Tadawul All Share Index (TASI) closed 0.2%, or 60 points, higher at 12,634 points on 21 Feb, recording the highest close since August 2022.
Total turnover reached nearly SAR 8.6 billion.
Based on the available data, the benchmark continued to rise for the 15th straight session, recording the most extended series of gains in its history. Total gains reached about 840 points.
Tasi - TRADINGVIEW POSITION UPDATE
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⭐️ پريمي تداول النصيح
— Arijit, CMT (USA), CFTe (USA) | Naranj Capital (@NaranjCapital) June 7, 2023
💡 اشتر ████
💰 ربح تداول متوقع 8-9% في 12 يوم.
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