TASI: 7202 (Weekly Chart)Arabian Internet and Communications Services CompanyTADAWUL_DLY:7202adel942 📉 Technical Analysis of 7202 (Weekly Chart)** 1. Overall Trend: Bearish Channel** The stock is trading inside a **descending channel**, defined by two downward‑sloping red trendlines. - Price continues to respect the **upper trendline as resistance**. - Lower trendline is acting as **dynamic support**, but price is now testing it again. - This structure indicates **persistent selling pressure** and a medium‑term downtrend. Interpretation: The trend remains bearish until the price breaks **above the upper channel line** with strong volume. --- 2. Key Support & Resistance Levels** The chart highlights two major horizontal levels: 🔻 Support: ~181.3 SAR** - Price is currently very close to this level. - Historically, this zone triggered rebounds (as shown by orange circles). - A weekly close **below 181** would be a strong bearish signal. 🔺 Resistance: ~213.4 SAR** - This is the major ceiling inside the channel. - Price has repeatedly failed to break above it. Interpretation: The stock is sitting on a **critical support**. Losing it opens the door to deeper downside. --- 3. Price Action: Strong Bearish Momentum Recent candles show: - A sharp drop (red arrow) with long bodies. - Lower highs and lower lows. - Price currently at **183.4 SAR**, very close to support. Interpretation: Sellers are in control. The stock is under heavy pressure. --- 4. RSI: Oversold Zone The RSI is around **25**, which is deeply oversold on the weekly timeframe. - Historically, RSI < 30 often leads to **short‑term bounces**. - But in strong downtrends, oversold conditions can persist. Interpretation: A technical rebound is possible, but not guaranteed unless price confirms support. --- 5. Volume & Events - Earnings and dividend markers appear, but no abnormal volume spikes. - No clear accumulation pattern visible. Interpretation: Institutional activity does not appear aggressive at this stage. --- 📌 Summary & Outlook: Bearish Factors: - Price inside a long‑term descending channel. - Trading near the lower boundary of the channel. - Strong bearish candles and momentum. - Support at 181.3 SAR is under threat. Bullish Factors: - RSI is oversold → potential for a technical bounce. - Price is near a historically strong support zone. --- 🎯 Trading Scenarios** Scenario 1 — Bullish Rebound (Needs Confirmation)** - Price holds above **181–183 SAR**. - RSI turns upward. - First target: **195 SAR** - Second target: **213 SAR (major resistance)** Scenario 2 — Bearish Breakdown** If price closes **below 181 SAR** on weekly: - Downside opens toward **170–165 SAR**. - Momentum likely accelerates. Scenario 3 — Trend Reversal (Long‑Term)** Requires: - Break above **213 SAR** - Break above the **upper channel line** - Weekly close with strong volume This would signal a shift from bearish to neutral/bullish. --- 📌 Final Assessment: The chart is **bearish**, but the stock is sitting at a **critical support** with an oversold RSI. This is a classic “decision point”: - **Hold above 181 → bounce likely** - **Break below 181 → deeper decline expected**