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Special technical report  saudi stock market major index (“pure” price analysis says a lot!!!) dec 14, 2011
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Special technical report saudi stock market major index (“pure” price analysis says a lot!!!) dec 14, 2011

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  • 1. SPECIAL TECH REPORT JAZIRA SECURITIES BROKERAGE Wednesday, December 14, 2011SAUDI STOCK MARKET MAJOR INDEX RIC: .TASI“PURE” PRICE ANALYSIS SAYS A LOT!!!A major lateral action still taking place and, without doubt, gaining mo-mentum. After early 2011 panic move, a selling climax pattern then aviolent thrust took the index right to the mid-Jan 2011 peak. A declineoff that level failed to continue all the way down to the low of the men-tioned panic move, forming a higher lows pattern, and a sustainable ral-ly has materialized.This rally is just perfect! A moderate rising channel is taking place,volume is rising noticeably, over the 200-day EMA of volume in mosttime, and the prices having fun penetrating most static and moving re-sistance levels.Why the index is tumbling with heavy volume? Well, that makes senseafter reaching a confluence of resistance zone from the 200-day EMA,lower degree dotted rising trend line, the 50% fib retracement level andthe rising resistance thick blue line of the intermediate rising channel.So what’s happening right now? A mentioned concentration of supplyzone is forcing the index to a confluence of support from 1) the 50-dayEMA (@6,175), 2) a declining important support line (red one), 3) ahorizontal dotted support line (@6,150).What about possible scenarios? A lateral action between the 50-dayEMA (6,175) and the 200-day EMA (6,300) may take place. A decisivedown-breakout below 6,150 will force the index to the lower rising sup-port thick blue line in the intermediate rising channel. Medium-termtraders are just fine as long as the index keep this channel intact.BOTTOM LINE: (Last Price: 6,181 pt.) Hold, Trade mentionedrange, Buy Dips to the lower side of the channel & Stop Lossbelow 6,030. 1
  • 2. SPECIAL TECH REPORT JAZIRA SECURITIES BROKERAGE Wednesday, December 14, 2011 Jazira Securities Brokerage Jazira Securities Online Trading 15 Shooting Club Street, Mohandessin You can trade online through Jazira Securities online Tel: (+202) 3760 9983 - 37609941 trading portal ... Fax: (+202) 3760 9883 www.jaziracapital.com Please contact our customer Service representatives for further information..JSB Contacts Title Land Line Mobile EmailHussein El Sawalhy, CFA Managing Director +202 2578 0931/2 +20100 1410 690 helsawalhy@jaziracapital.comAhmed Helmy Head of Sales & Trading +202 2576 0188 +20100 1004 482 ahelmy@jaziracapital.comMohamed Fahmy Head of Research +202 2578 0931/2 +20122 2157 312 mfahmy@jaziracapital.comRamy Rashad, CMT Senior Technical Analyst +202 2578 09 31/2 +20100 8385 501 rrashad@jaziracapital.comBasant Soror Online Trading Technical Support +202 2578 09 31/2 +20122 1615 409 bsoror@jaziracapital.comGeorge Mansour Customer Service +202 2578 09 30 +20122 9214 069 gmansour@jaziracapital.comDoaa Osman Customer Service +202 2578 09 30 +20122 7552 436 dosman@jaziracapital.com Disclaimer  Jazira Securities Brokerage (JSB) is a licensed Egyptian Stock Market Broker, regulated by the Egyptian Financial Service Authority.  Opinions, estimates and projections contained in the research reports or documents are of the author as of the date published and are subject to change without notice  JSB research reports or documents are not, and are not to be construed as, an offer to sell or solicitation of an offer to buy any securities.  Unless otherwise noted, all JSB research reports and documents provide information of a general nature and do not address the circumstances of any particular investor.  Neither JSB nor its mother company (Jazira Capital), or any of its affiliates accept liability whatsoever for any investment loss arising from any use of the research reports or their contents.  The information and opinions contained in JSB research reports or documents have been compiled or arrived at from sources believed reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness.  JSB, Jazira Capital or any of its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities mentioned herein as principal or agent.  JSB research reports and all the information opinions and conclusions contained in them are protected by copyright.  The research reports or documents may not be reproduced or distributed in whole or in part without express consent of JSB Research.  JSB research reports or documents, recommendations and information are subject to change without further notice . 2

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