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Dubai Financial Market - Weekend ReviewNot a very powerful week in terms on movement we only had 2 days of green candle and 3 days in red infact we closed in red too. Lets analyze, market took support at very important area of 2050 and bounced back and it made a high of 2100 it tried to break it but found resistance and it retraced back to 2072 and again it found support in this area which is marked in the chart and bounced from there made a closed at 2082 printing a hammer like doji candle indicating bull pressure and good support. Market is in side was as of now after breaking the upside trend line. The range as of now is 2050 to 2120 area. Market should resume its upside coming week crossing 2100 level soon. Lets wait and stalk how does the market perform this coming week sure many opportunities spotted last week and we will get more opportunities coming week too. I am bullish till its above 2050 levels. Happy weekend Hit like & follow if you like my analysis.
DFM:DFMGILong
by stalkstock
Union PropertiesWhat happen to you my favorite stock, i used to stalk you and you used to give me money lol. Now these days its under solid selling pressure. Today it made a low and a lower limit for the day! A good trader is the one who makes a plan and different scenarios in advance so that when the market performs as per the plan the trader makes money. I think it bounce tomorrow as i marked in the chart and go down further to test its lower levels. Plan number 2 is that it break the resistance and go higher. This stock was a good uptrend and now it have turned into bearish also point to be noted that it is just at the dynamic support of 200 ema lets see if it can hold and bounce. Bearish!! Hit like & follow for your support
DFM:UPPShort
by stalkstock
DFM bulls are tiredTodays session was just red red all over, it found support ar 2050 level and it took off from here but in todays session it made a red candle closing below yesterdays close there was heaving selling pressure and profit booking on pervious gains it means investors are booking profit early and are not confident. Profit booking normal and such small corrections after big moves are normal but we didnt have a very big move yet. It closed just at the near support level as marked in the chart, 2080 is support area now. So what next? i think market should resume upwards tomorrow or stay in this zone for another day before making a move upside. We stick with our scenario that trend line is broken and now the market is in the range that can potential make a W pattern. Tomorrow is last trading day of the week and i can expect more selling pressure as investor would not like to keep their positions open. As long as market is above 2050 i am bullish. ---Hit like & follow to show your support----
DFM:DFMGILong
by stalkstock
Salama Its becoming weak now, it go resistance strongly right at 200ema but at the same time found support at 0.500 level i was expecting it to close above the 200ema today so that it can continue going higher but it created a a big doji candle. Tomorrow is a decision day if it wants to go up or down i am still holding on to my trade. It can go either side but i think it might go up as it has accumulated twice at 0.500 area and it found support and it is now trying to break the resistance levels. Lets see i will keep a close watch and stalk it below 0.500 i will exit my trade and book a loss. Hit like & follow
DFM:SALAMALong
by stalkstock
DFM Rocket Launch!!Yes market made a big move today finally and thankfully upside. After series of dojis it made a decisive candle today activating bulls and pushing market upside. My plan and market scenario is still the same market took support at 2050 and now moving up this kind of is a indication that retracement is done for now and it have made a double bottow or W pattern in progress it will confirm once it crosses 2120 and move more upside. Next target is 2120 it may go direct or zig zag but the potential from here is to go up. Bullish for sure. Time to make money, let be in the money! Hit like & follow
DFM:DFMGILong
by stalkstock
DFM in RangeRed candle again for the 8th day again and on first day of the trading week. Market is caught in a range market opens positive but cannot maintain its strength and closes negative market is trading on a thin volume & not many trades are happening these days. Today it closed red and made a brearish doji candle, thursday it made bullish hammer candle taking support at 2051 area. So bulls and bears are fighting for a direction and one thing is for sure there will be a big move soon on either side once this range is broken more the consolidation more the bigger move. No doubt market is weaker and as of now sellers are trying to sell what ever they have there are no big buyers for now. Smart money is waiting for some catalyst to buy the stocks. I am still bullish till the time market is above 2050 area which is a very crucial support area. I think there will be more selling pressure tomorrow in the first half and market may recover later. Lets see how the market performs tomorrow. Hit like & follow
DFM:DFMGILong
by stalkstock
Air Arabia wants to fly Aviation industry is under pressure because of pandemic situation BUT as the flights are resuming now and operation starting this stock will push higher as fundamentally it will become more stronger and it is stronger. Technically it made hammer candle right at the dynamic support area which is 200 ema. Tomorrow if the market is positive this stock can go higher, nearest resistance is at 1.22 and support is at 1.17 once it crosses 1.22 more upside can be expected my first target would be 1.30. This stock is in a uptrend and making highs, I will wait for a decisive green candle tomorrow and thn take the trade to be safe. This analysis was done on the request of a trader @mkhaggag Hit like & support
DFM:AIRARABIALong
by stalkstock
UPP ---> Buy or BYEA trending stock and traded with volumes, but recently its been under tremendous pressure. Surely its in a uptrend making new highs, the news is its restructuring its debt and soon will finalize it this is the fundamental catalyst for now that is effecting this stock. Technically its witnessing selling pressure after the breakout it could not hold at the key support levels. From 0.315 to 0.322 is resistance zone as of now i have made 2 scenarios either it touch the resistance zone and come down 0.260 which is a key support area OR it breaks the resistance and make a new high again. Remember its just around 200 ema which is a dynamic support lets see if it can hold it but from the history it doesnt respect 200ema. I would not trade this one til it break 0.320 retest it and give me a buy signal to take the trade. Bearish on this one. Hit like & follow to support :)
DFM:UPPShort
by stalkstock
Emaar Properties why is it not performingEmaar one of the most heavily traded stock in DFM, whats wrong with it? lets analyse and understand. Firstly the immediate trend of this stock is a nice uptrend its making higher highs and higher lows thats a clear definition of a uptrend lets keep it simple. It broke the trend line on 30th june it also retested it the second day and it got rejected in last trading session it opened with a gap up which is a good sign showing that buyers are here and interested to buy this stock BUT heavy selling pressure was witnessed as expected because technically this stock have become week as i mentioned it broke the tradeline. The scary part is that it have started to make lower highs and almost made a lower low yesterday which is a small support area also. A crucial level is at 2.60 area now lets see how it behaves in sundays session. I would stay out of this stock as this looks bearish to me for now. Hit like & follow
DFM:EMAARShort
by stalkstock
Damac a trending stockDamac is in lime light this days as the news about the company was taking rounds. However lets see it from technical point of view it made a huge gap up from 0.685 to 0.730 thats a huge jump it also make a day limit up during the day but it could not sustain the rally and made a long inverted hammer candle. I did not trade this as i like to stalk the stock let it give a break out and come back for retest and thn i buy it. In thursdays session it made a gap down indicating weakness as buyers were not interested at tht level and eventually it made a doji candle. Its immediate support level is around 0.710 which is not strong enuf 0.70 is strong support i would like to wait and see for the buy signal and thn enter the trade. Hit like & follow
D
by stalkstock
1
Dubai Financial Market Bulls & Bears who wins??In my yesterdays idea i mentioned 2050 is crucial support area, today the market bounced from 2051 and could not break the support area. I was expecting market to make a doji or a hammer candle and as expected it made a nice hammer candle right at the support level. So is the support level confirmed? is the retracement done? bull trend started? The answer is BIG NO!! market just took a hold at the support area and made a hammer candle after a inverted hammer candle day before yesterday. Todays hammer is bullish but to confirm the support we need to see a green candle that should close above 2070 or above 2075 to be very safe. If the market makes upward move from here and confirms W patter we can expect market to make a new high very soon i had mentioned earlier the target could be 2225 area. I am still bullish as the market is above 2050 area. Next week could be very interesting lets stalk the market and find an edge to trade. More details next week, Happy Weekend!! Hit like & follow :)
DFM:DFMGILong
by stalkstock
DFM heading south?Market is getting weaker day by day but interesting part is its not making any big moves to down its climbing slowly. As mentioned earlier 2050 is a crucial support area for this uptrend to sustain i would see a sign of relief it makes a hammer or a doji candle tomorrow to hold at this level. If it wants to break this important level it has to break it with a big decisive candle with a strong momentum. As per my analysis it should take a hold from tomorrow. If it has to make a W pattern at this level it has to hold 2050 area and cross 2120 to confirm the W pattern and resume the uptrend. Lets not forget trend line is broken already and market is just at the near support area. We have to wait for tomorrows closing which will be very important. I am bullish till the market is above 2050 level. Hit like & follow :)
DFM:DFMGILong
by stalkstock
DFM Red Red RedFor the 5th day again it printed red candle and no sign of relief yet! There are 3 support areas marked in yellow boxes as you can see. First support at 2045 - 50 Second is 2030 to 35 and finally psychological support of 2000. In my opinion market have become weak, it made a doji right at the trendline and today it not only crossed but also retested and failed which is very very bearish. Technically we are still in up trend as we have not yet taken the lows out. There is a pattern which can be formed here and its not yet completed but i am presuming that there is a possibility to look at the market from a bull angel. This pattern usually occurs when the market is at the bottom or cannot break the resistance and in up trend it tries to break the resistance by going down consolidation and the up again, the pattern is called W pattern i have drawn on the chart for illustration. There is a possibility it can make a W pattern and resume the uptrend TILL the time its above 2050 level. I am bullish as long as it stays above 2050 levels. Hit like & follow if you like my analysis.
DFM:DFMGILong
by stalkstock