TASI: Assessing The Risks To Our Bullish View

We hold to our bullish view on Saudi stocks for now, in spite of a slightly more cautious view of global equity markets and oil prices, and lower than expected Q1 earnings for a number of index heavyweights. As the chart shows, the year-old uptrend is still in place, but it has not been so steep as to take the market into overbought territory on a technical basis.

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