We Value Your Feedback! Help us shape better content and experiences by participating in our survey. Join the Survey Now!
Saudi Market
TASI Technical Analysis:
The TASI index exhibits entrenched bearish momentum, trading below all major moving averages (10/20/30-day SMAs at 10,940/11,160/11,277) within a confirmed descending triangle pattern projecting measured targets of 9,800-10,000, characterized by accelerating negative MACD momentum (-10.55 histogram) and distribution volume despite oversold RSI (34.96). Critical support resides at 10,750-10,800 with breakdown risk toward 10,500-10,600 (70% probability scenario), while any recovery requires decisive close above 11,200 to invalidate the bear thesis.
TASI Index Weekly Market Summary (June 8 to June 12)
The TASI index decreased by 1.49%. With a trading week of 3 days, the total trading volume reached 15.5 billion Saudi Riyals, averaging 5.2 billion per day.
From the perspective of individual stock performance, 29 companies saw their stock prices rise this week, while 237 companies saw their stock prices fall. The companies with the highest increase included CENOMI RETAIL, NAHDI, ALBILAD HONG KONG CHINA ETF, with increases of 10.71%, 5.84% , and 4.56% respectively. The companies with the highest decline included ALOMRAN, APC, ELM, with declines of 9.62%, 8.64%, and 8.33% respectively.
June 15:
Dividend Distributions: BUDGET SAUDI (10%: SAR 1/sh), BCI (10%: SAR 1/sh).
Dividend Eligibility: DALLAH HEALTH (5%: SAR 0.30/sh), CENOMI CENTERS (3.75%: SAR 0.375/sh).
TANMIAN EGM: Vote on 22.4% dividend (SAR 2.24/sh) + auditors’ reports.
May CPI Release (General Authority for Statistics)
High-yield dividends (TAMMIAN, BUDGET) may lift retail sentiment. CPI data >2.5% could fuel rate-hike fears, pressuring rate-sensitive sectors.
SMC IPO: Subscription opens.
June 16:
Dividends: QACCO (8%: SAR 0.80/sh).
EGMs: JAZIRA TAKAFUL (3% dividend vote + financial reports).
Dividend Eligibility: ALMUNAJEM (10%: SAR 1).
SMC IPO Closes
SMC IPO may divert liquidity temporarily. ALMUNAJEM’s dividend could boost food sector. EGM outcomes (JAZIRA) may cause stock-specific volatility.
June 17: ARABIAN MILLS dividend (5.9%: SAR 0.59/sh).
June 18: SPCC EGM (vote on 7% dividend: SAR 0.70/sh).
June 19:
OASIS dividend vote (4.5%: SAR 0.45/sh)
SEDCO REIT distribution (1.25%: SAR 0.125/unit)
AWPT dividend approval (15%: SAR 1.50/sh)
SPCC’s cement-sector dividend may lift industrials. AWPT’s tech-focused payout could support growth stocks. REIT distributions (SEDCO) may attract yield seekers.
U.S. Market
S&P500 Technical Analysis:
The S&P 500 exhibits robust bullish momentum, trading above all critical moving averages (10/20/30-day SMAs at 5,984/5,941/5,865) following a 25% V-shaped recovery from April lows, with technical confirmation from a Golden Cross pattern and constructive MACD crossover despite RSI approaching overbought territory at 66.94. While immediate resistance at 6,100-6,150 may trigger consolidation, the bull flag formation and higher highs/lows structure support upside targets of 6,200-6,250 contingent on holding the 5,940 support confluence.
June 17
U.S. Retail Sales (May data)
Previous: +0.10%
Consumer spending represents ~70% of U.S. GDP. Following the modest 0.1% gain in April, markets will scrutinize whether consumer resilience continues amid persistent inflation concerns.
Above expectations: Bullish for consumer discretionary stocks, bearish for bonds
Below expectations: Could signal economic softening, supportive for dovish Fed policy
Import Price Index (May data)
Previous: +0.10%
Key inflation input metric. Rising import prices could reinforce Fed hawkishness, while declining prices support disinflationary narrative.
June 18
FOMC Interest Rate Decision
This is the primary market-moving event of the week. Given recent economic data and inflation trends, markets will focus on:
Rate decision (hold vs. cut expectations)
Forward guidance language changes
Dot plot updates
Powell's press conference tone
Sector Implications:
Rate-sensitive sectors: REITs, utilities, financials most impacted
Growth stocks: Technology sector highly sensitive to rate outlook
Initial Jobless Claims (Week ending June 14)
Labor market health indicator released same day as FOMC adds context for Fed decision-making.
June 19
Juneteenth Federal Holiday
Crypto ETF Technical Analysis:
The Bitcoin ETF exhibits a concerning double-top formation near the $110-112 resistance zone, confirmed by bearish technical divergence (RSI at 55.99 showing lower highs against price peaks) and a decisive MACD crossover into negative territory, signaling distribution amid declining upside volume and accelerating sell-side participation. With critical support at $103.99 (30-day SMA) and the $98-100 neckline, the pattern projects a measured move to $85-88 upon breakdown, though invalidation requires a sustained close above $112.
Disclaimer:
Sahm is subject to the supervision and control of the CMA, pursuant to its license no. 22251-25 issued by CMA.
The Information presented above is for information purposes only, which shall not be intended as and does not constitute an offer to sell or solicitation for an offer to buy any securities or financial instrument or any advice or recommendation with respect to such securities or other financial instruments or investments. When making a decision about your investments, you should seek the advice of a professional financial adviser and carefully consider whether such investments are suitable for you in light of your own experience, financial position and investment objectives. The firm and its analysts do not have any material interests or conflicts of interest in any companies mentioned in this report.
Performance data provided is accurate and sourced from reliable platforms, including Argaam, TradingView, MarketWatch.
IN NO EVENT SHALL SAHM CAPITAL FINANCIAL COMPANY BE LIABLE FOR ANY DAMAGES, LOSSES OR LIABILITIES INCLUDING WITHOUT LIMITATION, DIRECT OR INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL DAMAGES, LOSSES OR LIABILITIES, IN CONNECTION WITH YOUR RELIANCE ON OR USE OR INABILITY TO USE THE INFORMATION PRESENTED ABOVE, EVEN IF YOU ADVISE US OF THE POSSIBILITY OF SUCH DAMAGES, LOSSES OR EXPENSES.
