TASI Weakens as Selling Pressure Builds: Key Support in Focus

After moving sideways last week, the Tadawul All Share Index (TASI) closed at 10,808, down 0.17% from the previous week's close.

At first glance, the decline may seem minor.

But when we zoom out, the bigger picture tells a different story.

The market remains in a broader downtrend, and the recent sideways movement appears to be more of a pause than the beginning of a fresh uptrend.

Here's what the chart is telling us

Over the past week, TASI has been trying to build a base around the 10,750-10,800 zone.

The challenge?

Buyers haven't shown enough strength to turn this area into a reliable support.

In simple terms, the market is holding its ground, but it lacks the buying momentum needed for a meaningful recovery.

As things stand, the broader trend continues to favor the downside.

If selling pressure persists, the next key zone to watch is 10,400-10,500.

This area has attracted buyers in the past and could once again become an important support level.

However, don't buy simply because the index reaches this zone.

Instead, wait for confirmation that buyers are stepping back into the market before taking aggressive long positions.

What should traders do?

Patience could be your biggest advantage.

Let the market prove that support is holding before becoming aggressive on the buying side.

Until then, staying selective and managing risk should remain the priority.

Tadawul 8313 : Rasan Information Technology - ADX & DI Indicator

• Increasing ADX value above 20, indicated the strength of the trend, thereby uptrending ADX confirms the bullish or bearish supportive decisions. Along with the rising ADX, and the +DI is above (or crossing) -DI, indicates the long trades should be favoured.

Conclusion - Tadawul 8313 : Rasan Information Technology Stock Price Forecast

Based on our stock trading advice in Saudi Arabia, Rasan Information Technology stock price target will be SAR 80 - SAR 82 in the next 08-10 trading sessions.