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Professor Ali Gamal Abdel gawad : (TASI) closed the trading session at 11,121.13 points, a slight increase of 0.06%.

The Saudi Stock Exchange (TASI) closed the trading session at 11,121.13 points, a slight increase of 0.06%. This performance reflects the continuation of the sideways-to-upward movement within a narrow range, with the index maintaining its position above the important psychological support level of 11,000 points. This behavior indicates a continued balance between profit-taking and selective buying of leading stocks.

Technically, the index is moving within a medium-term upward trend that began from the yearly low near 10,194 points, with gradual consolidation above the psychological barrier of 11,000 points, supporting the continuation of the positive short-term outlook. The index is currently in the middle of its yearly range between 10,193 and 11,782 points, which provides technical room for upward movement should momentum improve.

Technically, the 11,200 and 11,350 point levels remain the most important near-term resistance levels, while 11,050 and 10,950 points represent key support. The positive scenario remains valid as long as trading stays above 11,000 points. A break below this level could lead to a limited correction towards lower support levels before the upward trend resumes.

In the stock market, there was a clear divergence between the banking, energy, and telecommunications sectors on one hand, and some leading stocks facing profit-taking pressure on the other. Meanwhile, speculative and selective trading continued across various sectors. This reflects the current market dynamic, which favors selective movement over broad-based upward movement.

Short-term expectations remain positive, with buyers holding a slight advantage as long as the index remains above 11,000 points. In the medium term, however, a break above 11,350 and then 11,500 points would clearly restore upward momentum towards the yearly high.

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