according to charts , damac is reaching new low , looking to get an entry before end of april 2019 from price of 1 or lower .
price of IPO was 1
if price is reached to 1 before end of April 2019 , will be nice area to buy as dividends of 2017 was 0.15 for each share
following previous ideas on Emaar
technically speaking Emaar is falling to 4 AED , which is lower prices then 2016 low 4.25 ,
the current price market has shown a form of rejection to close below 3.90 on daily TF ,
expecting an increase to 5 then next 7 , 9 , and looking to ultimately take a target of 12.
This could be the bottom for GGICO.
if it breaks further down where it currently is at 19-20 fils, it could drop to 0.14 and bounce from there, but in terms of Risk to Reward this looks like a pretty good place for value investing.
Keep in mind though, if GGICO drops further there is a possibility that it could get de-listed.
How much further can this stock go down??
last stop to end its 5 way down would be 0.34-0.39.
If we do not see a bounce from there, there is only two scenarios that I foresee:
1. Stock getting de-listed from DFM.
2. Stock dilution to increase the current value, and doing another initial public offering for new shares.
most likely #2 will be the action that...