Bullish PatternIt was one of the top traded stocks recently and its still in a uptrend. We can clearly see a bullish head & shoulder pattern and it have already given a breakout. Its coming back for a retest its a good chance to buy if you have missed it the next target is 1.16 looks very bullish.
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EMAAR - Dubai Financial Market *****Please follow, like, and support this idea, if it helped you in anyway*****
***This is not a financial advise***
Emaar is on its way to fly high - and not thinking of looking back, It has broken the channel two time and got the rejection.
On the third time with the double bottom, it might break all the resistance coming on its way.
Additionally, it has also started trading as derivatives on the DFM, so buy and sell game will start
Stocks holder - keep an eye for long term and the target of AED 8 is easy to attain with in 5 years of time, short term, please stay away as it will jump and retrace quickly due to derivatives pressure initially
Overall, This is the heavy weight share on DFM,
Chart was prepared on request from Mr. Omar
Resistance Broken!!Today with a big move to the upside it broke solid resistance around 2.30 level. We would like to buy it but not now as its in a push phase let it come down for correction we will surely get a chance to enter the trade at the support levels. All we have to do is patiently wait for the price to come down and give us a good setup to enter the trade. No need to rush most of the time we just enter the trade and market just comes down!! thats because we enter at resistance level and its time for a correction. Looks bullish
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Strong Support HoldsEmaar was at a very important and crucial support level which i mentioned in my previous analysis - 2.55 level. We can see some price action right at the support level. For the last 2 days its making nice big green candles infact today it opened with a gap up and came down for a small profit booking too but buyers again jumped in and pushed the price to the upside. Emaar has power to move the whole market it is big stock and it has got heavy weightage on market index. I will wait for a correction and then enter the trade. Looks very bullish for now this can be a begining of a new uptrend!!
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BullishIt have tested the same level 0.264 four times now. We are seeing a bullish candlesticks right at the support level. If you have entered the trade first target is 0.280 for now. Still the trend is to the downside. In order to start a uptrend it have to cross 0.280 with a solid green candle in this case we will see a new high and it will cross the previous swing high. A small retracement again which should be a higher low and contiune to the upside this will be a proper bullish price action. For now its good for intraday trading!!
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Still No ClarityDeyaar is been trying hard for weeks now!!! it was just trying to hold above the support level around 0.268 and today agian we saw a good closing right above the support level. The trend is still to the downside we cannot just trust 1 green candle to enter the trade unless you are trading support and resistance me as a trend trader i would like to see some more price action and enter the trade once the trend is confirmed. Keep stalking this one.
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Like to trade the Range?I mentioned the trade idea on my social media pages, if you like trading in the range this is a good setup up. It bounced rights from the support level and made a perfect doji type candle very next day that is today we can see a positive candle meaning buyers want the price to go up!! next target is 0.850 looks bullish for now.
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