TASI Develops Further Bullish Signs, Fueling Optimism

The Tadawul All Share Index (TASI) spent last week moving sideways—exactly as highlighted in our previous weekly outlook. This quiet phase is actually meaningful. It suggests that the earlier selling pressure has started to dry up.

What makes the setup more interesting is the candlestick formation at a key support zone. A Tweezer Bottom has now emerged, often seen as an early signal that the market may be preparing for a short-term reversal.

For the coming week, levels remain unchanged. TASI needs to hold above 10,700 to keep the door open for a move toward 11,000, which stands as a strong resistance area.

That said, price behavior still points to a muted, range-bound week, with a mild upside bias rather than a sharp rally.

In such market conditions, opportunities will be selective. Aggressive longs may be limited, so traders should stay cautious and focus only on stocks showing relative strength and clean bounces from support levels.