Tadawul All Share Index Trend Score

Tadawul All Share Index (Last: 6670.02, up 28.92 points)

Yesterday, the Index moved higher by 29 points to close the day at 6670. The Index’s reluctance to go below 6600 levels and its ability to generate 4 positive closes during the last 5 trading sessions is implying that buyers are getting aggressive.

If everything goes well, expect TASI to test 6800-6900 resistance zone after facing mild selling pressure at 6700 level. Minor support is at 6625 while major support zone is at 6600-6550.  

Our top picks are ALINMA, JABALOMAR, MAADEN, SAFCO and STC. All these stocks have positive Trend Score and are showing positive short term momentum velocity. The ideal buying price is below yesterday’s closing price and a protective stoploss must be placed at 2% below purchase price.