Bearish Heat on TASI: Can the 10,500 Floor Stop the Slide?

November has been nothing short of brutal for the Saudi stock market. TASI opened the month at 11,580.77 and slid all the way down to 10,640.65, marking a sharp 940-point drop (-8.12%) — and there’s still one more session left.

Why the Sell-Off?

Investor fatigue is clearly visible. After months of weakness, TASI is now down 8.60% year-over-year as of late November. Participation has dropped, signaling that many traders are stepping aside and waiting for clearer signals.

What’s Happening Now?

As we step into December’s first week, the market still looks heavy. Price action points toward a likely retest of the 10,400–10,500 support zone — a crucial multi-month level that has held strong several times in the past.

The Key Risk Ahead

A decisive breakdown below 10,400 on strong selling volume could open the door for a deeper slide toward 10,000.

What Should Traders Watch?

Keep a close eye on the 10,400–10,500 support area — this is the most important zone right now.

Look for:

• Any early signs of stabilization near support.
• A clear bullish reversal candle indicating buyers stepping back in.

Bottom Line

TASI is at a make-or-break moment. The next few sessions will determine whether the index finds support — or slips into another leg down.