TASI at Major Support — Is a Rally Coming Next?

After five consecutive weeks of decline, the Tadawul All Share Index (TASI) has finally reached a major support zone near 10,500. This level has attracted buyers in the past, and the last two sessions showed a similar reaction as the index attempted a modest rebound.

However, the big question remains: Is this the start of a new rally?

So far, there’s no clear sign of a strong bullish reversal. For TASI to really pick up momentum, it needs to hold above 11,000—that’s the level where confidence can return and an upside trend may begin.

On the flip side, if the index breaks below 10,500, it could trigger more downside pressure. For now, RSI remains below 30, indicating the market is significantly oversold and due for some stability.

In the short term, TASI is likely to consolidate near the support zone and may move sideways until a clearer direction emerges.

What should traders do now?

This period is ideal for focusing on technically strong stocks—those already showing momentum or bouncing from their own support levels. These stocks often turn into early performers once the broader index stabilizes.

If you’re looking for Saudi Tadawul stocks advice, follow our short-term trading tips for easy and quick market ideas.