26/01/2014
Expectations for temporary profiting
Market index targeting 8900resistance point
The Saudi stock market stabilized in an downloads at 8772 points, after TASI trades last week by 11 points, equivalent to 0.1 percent of the value of the index at the weekly Central liquidity decreased by 3.6 per cent in trading last week, the local market TASI index closed at 8772 point and close to close the previous week at 1678 point, securities in the index to weekly high index level banks by 0.75 percent and the cement sector index By 0.1 percent and the telecommunications index by 0.5 per cent, while the petrochemical sector dropped 1.1 percent and the energy sector index by 1.3 percent and the industrial sector by 2.2 percent and transport and media speculation, hotels, retail, transport sector index rose by 4.8 percent and the index 2.8 percent and index hotel sector by 2.7 per cent and retail index 2.9 percent. The insurance sector liquidity continues to undo the decline in trading last week by 5.1%. value of trades downloads have squeezed to 31.44 billion , 3.6 per cent compared to the previous week's trading value of 32.62 billion riyals, daily trading averaged 6.3 billion daily 151.00 daily trading average in the previous week which exceeded 6.5 billion per day. an analysis of the liquidity and value of trades shows a remarkable change in weekly shares of sectors, have seen their share of banking Petrochemicals fell compared to last week's trading from ' January ', with the share of the banking sector decreased to 11.1 per cent of the value of trades downloads compared to the rate in ' January ' estimated 12.54 per cent share of the petrochemical sector dropped to 19.8 per cent compared to the share of the private sector this month estimated 22.7 percent, while its liquidity went to the telecommunications sector which received 9.8 percent of trading last week, the cement sector which received 3.4 percent of the trades themselves. the declining liquidity of leading sectors due to its orientation towards speculative sectors as the retail sector's share of the value of trades downloads to 8.1 percent last week compared with the average in the last weeks of ' January ' current estimate of 4.3 percent, the same share of the real estate industry, who returned to the rise was 9.7 per cent of the value of trades. The share of the insurance sector is still without the annual average in 2013, estimated at 19.2 percent, with its share of trades last week, 14.1 percent, the same rate in January ' June '.
Technically still a market index TASI aims to resist 8900 points, amid expectations the entry cursor in expected profits, may be before this point, depending on the reading of technical indicators. The path to index TASI is still on and click TASI closed positive exponential moving historical averages 50 days at 7,980 points, remains positive closing averages 50 days on average 200 days, prospects entering the index in expected profits appear through reading professional RSI which closes above level 70 and level of risk in this indicator reinforces this reading negative deviation between the index TASI ' rookie ' and cash flow MFI index ' downward ' and the deviation Refers to the expectation of its TASI index reflected rising, adding to the risk that the negative deviation between market TASI index and index size and volumes are the same expectations given read cash flow index MFI ,indicator MACD signal negative art also, reinforcing the Outlook entry cursor in profits into declining trend toward points of support, and the closest point in support of SMA in the Bollinger bands indicator Bollinger at 8660 points ,and may be affected by local market retreats in global financial markets and oil markets last week, in Exchange for the return of gold to climb. These economic indicators related to the index of the domestic market, especially oil prices direct with the relevant local market index, moving directly to the petrochemical sector, the sector leader in the domestic market, overall will not affect these expectations or even post a profit on a path the cursor upward in the coming period with positive results by listed companies in the local market, particularly the leading sectors, banking and petrochemicals, which have grown their mid-year profits. The petrochemicals sector which dropped its profits in 2012 by 16.8 per cent compared to a net profit of 2011 had improved its profits in the year 2013 the growth rate of 2.8 per cent, which enhances the survival of the pointer in the uptrend, and the impact of profit-taking phase would be limited, the trader can choose proper stop loss point when score support pointer, and most market moving averages.
