The general index of the Saudi market strengthens its gains – Morning Analysis – 05-18-2021

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Dubai – Bassam Rashid – Forex News Today The Saudi Market General Index (TASI) rose for the second session in a row, to achieve new gains in its last session, amounting to 0.71%, equivalent to 73.759 points, to prepare the index to attack the important resistance level of 10,500, amid continued positive pressure for its trades higher Its simple moving average for the previous 50 days, and under the control of the main bullish trend in the medium and short term, along a slope line, and we notice in the middle of that the emergence of a positive crossover in the RSI indicators, after reaching exaggerated oversold areas compared to the movement of the index.

Therefore, we expect a further rise for the index during its upcoming trading, provided it breaches the 10,500 resistance, then targets the 11,000 resistance level.

The expected trading range for today is between the support level 10,17.53 and the resistance level 10,540.17.

The number of shares of the winning companies

117

Number of shares of losing companies

74

Number of fixed company shares

7

The total number of shares traded in companies

200





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