TASI Holds Firm at Support—Is the Market Gearing Up for a Rally?

Tadawul all share index (TASI) ended last week on a calm note, inching up 0.32% to close at 10,527. Price action remains tight—but the structure is quietly improving.

On the daily chart, TASI has carved out a double bottom near the key support zone, hinting at a potential trend reversal once the neckline is cleared.

Key levels to watch

• Immediate resistance: 10,760
• Major resistance: 11,000 (a decisive move above confirms reversal)
• Strong support: 10,400–10,500

Outlook

With the last week of the year approaching, Saudi market is likely to stay muted. A meaningful move may only come after a clear breakout or breakdown from these levels.

Strategy

Stay selective. Focus on technically strong stocks showing rebounds from support—they could lead if the index turns higher.