Tadawul All Share Index (TASI)

Tadawul All Share Index (TASI)

Last: 6769.12, up 1.31 points

The Index consolidated its gains and rose 1.31 points to end the day at 6769.12. Expect more gains in the near term with a target above 6800 level. Near term support is at 6700 and a break below this level will terminate this short term uptrend.

SAFCO is showing overbought readings as the 14 day RSI of the stock has gone above 80. Though there are no visible signs of peaking, the possibility of moderation in uptrend does exist due to profit booking on higher levels.