11045 is the target of TASI next couple of weeks just in case the orange support line broken
RSI and on the peak levels and
TTTadawul All Shares Index
10,591.130SARD
−122.690−1.15%
At close at 12:10 GMT
SAR
No trades
TASI trade ideas
TASI Saudi indexThe index revealed a lot about the support line - = 11250 until it was finally able to exit to the top, bypassing its last high 11464 and thus targeting 11790 as an investment for this rise
It is still in the ascending channel, but our expectations if it returns and breaks the support area 11250, it will drop to 10949
Is the Tadawul All Share Index (TASI) overdue for a correction?The Tadawul All Share Index (TASI), which tracks the performance of all stock listed on The Tadawul, has recorded a 30.34% increase since the beginning of 2021.
However, the TASI is sitting at a peak level, which appears to be a repetition of the previous boom and bust cycle. The TASI was in a comparable position in late 2014 and late 2007, before wiping out more than half its value over the proceeding months. If past performance is any indicator, the TASI might be overdue a correction.
About the Tawadul
The Tadawul (TADAWUL) is the only licensed Stock Exchange in Saudi Arabia, the largest Stock Exchange in the Middle East, and the twelfth largest in the world by market capitalisation. According to Statista, The aggregate market cap of the 200 companies listed on The Tadawul is approximately US $2.6 trillion (July of 2021).
Contributing to an outsized portion of The Tadawul’s market capitalisation is Saudi Aramco (TADAWUL: 2222), the fourth-largest company in the world (market cap as of Sept 2021, US ~$1.9 trillion). Perhaps unsurprisingly, a vast swath of the listings on The Tadawul are companies concerned with crude oil and chemical products. Saudi Basic Industries (TADAWUL: 2010) is the Exchange’s second-largest listing, with a comparatively modest market capitalisation of US $99 billion.
Financial institutions and banking groups help to diversify the offerings of the Stock Exchange. The Exchange’s former largest listings, Al Rajhi Banking & Investment (TADAWUL: 1120) and Saudi National Bank (TADAWUL: 1180 ), are currently the third and fourth largest with market caps between US $70 and US $80 billion.
