Overall Trend
DFMGI is in a strong uptrend, as we see on the chart it have hit the resistance area of 4100 that is psychological and technical resistance. Its been going side ways for about 2 weeks not this is a good indication that bulls are still defending the support zone.
Breakout
Coming week which will be very crucial as more data will be coming out...
Still confusing with todays candle close and volumes its looking weaker but still in the safe zone, it can still breakout and reach 0.8 lets wait for a proper breakout and not rush I am stalking this very closely.
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Ajman Bank after the rights issue which was over subscribed, now its getting ready for a breakout. I am still bullish on this stock I think we should see 2.50 very soon.
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Market is at a very crucial stage, Fridays closing of dfmgi was very positive and I expect it to go higher from here. From here there is very good chance for the market to cross 3400 resistance areas, but incase if market does not then it can again come down to the marked support level.
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Dubai Financial Market is still bullish and more upside is expected after a small correction. Any dip from now is a buying opportunity(shares) at the same time keep a close watch on FED's statement about its monetary policy which will effect financial markets over the globe.
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Dubai stock exchange is clearly on a bull run its very good time to invest yes its bit slow for now but i am sure it will soon out perform adx. For now it have taken a bounce from the support zone and ready to fly here. Catch this one!!
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Its ready for another big move if you missed it earlier here is the chance to buy DIC and make some money. I think coming week it will try to fill up the gap so still there is some juice remaining for us. Very Bullish!!
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Yes over all its very positive but now going side ways even i am holding this trade for about 4 days now. They will soon announce financial results and hopefully it will be positive. I am waiting for my target!!
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